Rhumbline Advisers Sells 15,013 Shares of PT Telekomunikasi Indonesia, Tbk $TLK

Key Points

• Rhumbline Advisers has reduced its stake in PT Telekomunikasi Indonesia, Tbk by 41.3%, selling 15,013 shares, and now holds 21,336 shares worth $315,000.
• Other institutional investors made significant moves, with Farther Finance Advisors LLC increasing its stake by 541.8% and Assetmark Inc. by 1,368.7% during the same quarter.
• Analysts have downgraded PT Telekomunikasi Indonesia's stock from a "strong-buy" to a "hold" rating, indicating a shift in market sentiment regarding the company's performance.

Rhumbline Advisers decreased its position in shares of PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Free Report) by 41.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,336 shares of the utilities provider's stock after selling 15,013 shares during the period. Rhumbline Advisers' holdings in PT Telekomunikasi Indonesia, Tbk were worth $315,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TLK. Farther Finance Advisors LLC increased its stake in PT Telekomunikasi Indonesia, Tbk by 541.8% in the first quarter. Farther Finance Advisors LLC now owns 3,151 shares of the utilities provider's stock valued at $47,000 after acquiring an additional 2,660 shares during the period. Assetmark Inc. lifted its position in shares of PT Telekomunikasi Indonesia, Tbk by 1,368.7% during the first quarter. Assetmark Inc. now owns 3,701 shares of the utilities provider's stock worth $55,000 after purchasing an additional 3,449 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of PT Telekomunikasi Indonesia, Tbk by 37.7% during the first quarter. SBI Securities Co. Ltd. now owns 4,417 shares of the utilities provider's stock worth $65,000 after purchasing an additional 1,210 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of PT Telekomunikasi Indonesia, Tbk by 17.8% during the first quarter. TD Private Client Wealth LLC now owns 5,782 shares of the utilities provider's stock worth $85,000 after purchasing an additional 872 shares in the last quarter. Finally, Brooklyn Investment Group lifted its holdings in PT Telekomunikasi Indonesia, Tbk by 1,896.4% in the first quarter. Brooklyn Investment Group now owns 6,688 shares of the utilities provider's stock valued at $99,000 after buying an additional 6,353 shares during the period.

Analysts Set New Price Targets

Separately, New Street Research lowered shares of PT Telekomunikasi Indonesia, Tbk from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 17th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold".

PT Telekomunikasi Indonesia, Tbk Stock Down 1.8%

PT Telekomunikasi Indonesia, Tbk stock opened at $19.09 on Thursday. The company has a market cap of $18.91 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 4.28 and a beta of 0.66. PT Telekomunikasi Indonesia, Tbk has a 1-year low of $13.15 and a 1-year high of $21.00. The company has a fifty day simple moving average of $18.89 and a 200 day simple moving average of $16.89. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.17.

PT Telekomunikasi Indonesia, Tbk Company 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.

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