Ramirez Asset Management Inc. Makes New Investment in PT Telekomunikasi Indonesia, Tbk (NYSE:TLK)

Key Points

• Ramirez Asset Management Inc. invested approximately $3.86 million in PT Telekomunikasi Indonesia, Tbk by acquiring 261,417 shares, reflecting growing interest in the stock among institutional investors.
• PT Telekomunikasi Indonesia, Tbk recently increased its annual dividend to $1.3038 per share, resulting in a dividend yield of 5.8%, up from the previous $1.11 per share.
• Despite overall positive developments, New Street Research downgraded the company's stock rating from "strong-buy" to "hold" as of June 17th.

Ramirez Asset Management Inc. acquired a new stake in shares of PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 261,417 shares of the utilities provider's stock, valued at approximately $3,861,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Fifth Third Bancorp boosted its position in PT Telekomunikasi Indonesia, Tbk by 1.2% during the 1st quarter. Fifth Third Bancorp now owns 61,790 shares of the utilities provider's stock valued at $913,000 after purchasing an additional 706 shares during the period. TD Private Client Wealth LLC boosted its position in PT Telekomunikasi Indonesia, Tbk by 17.8% during the 1st quarter. TD Private Client Wealth LLC now owns 5,782 shares of the utilities provider's stock valued at $85,000 after purchasing an additional 872 shares during the period. SBI Securities Co. Ltd. boosted its position in PT Telekomunikasi Indonesia, Tbk by 37.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 4,417 shares of the utilities provider's stock valued at $65,000 after purchasing an additional 1,210 shares during the period. Manning & Napier Advisors LLC boosted its position in PT Telekomunikasi Indonesia, Tbk by 2.0% during the 1st quarter. Manning & Napier Advisors LLC now owns 116,852 shares of the utilities provider's stock valued at $1,726,000 after purchasing an additional 2,300 shares during the period. Finally, Choreo LLC boosted its position in PT Telekomunikasi Indonesia, Tbk by 6.5% during the 1st quarter. Choreo LLC now owns 38,459 shares of the utilities provider's stock worth $568,000 after acquiring an additional 2,336 shares during the period.

PT Telekomunikasi Indonesia, Tbk Price Performance

Shares of PT Telekomunikasi Indonesia, Tbk stock traded up $0.36 during trading on Friday, hitting $17.96. The stock had a trading volume of 545,231 shares, compared to its average volume of 660,479. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.89 and a quick ratio of 0.87. The firm has a market cap of $17.79 billion, a P/E ratio of 12.12, a PEG ratio of 2.76 and a beta of 0.60. The business has a fifty day moving average of $16.93 and a two-hundred day moving average of $15.96. PT Telekomunikasi Indonesia, Tbk has a fifty-two week low of $13.15 and a fifty-two week high of $21.00.

PT Telekomunikasi Indonesia, Tbk Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 12th were given a dividend of $1.3038 per share. The ex-dividend date of this dividend was Thursday, June 12th. This is a boost from PT Telekomunikasi Indonesia, Tbk's previous annual dividend of $1.11. This represents a yield of 580.0%. PT Telekomunikasi Indonesia, Tbk's payout ratio is presently 70.95%.

Wall Street Analyst Weigh In

Separately, New Street Research downgraded shares of PT Telekomunikasi Indonesia, Tbk from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 17th.

PT Telekomunikasi Indonesia, Tbk Profile

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk provides information and communications technology, and telecommunications network services worldwide. The company operates through mobile, consumer, enterprise, Wholesale and International Business, and Other segments. The Mobile segment offers mobile voice, SMS, value added services, and mobile broadband services.