PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Shares Gap Up - Here's What Happened

Key Points

• Shares of PT Telekomunikasi Indonesia, Tbk opened at $20.16, up from a previous close of $19.31, with a current trading price of $20.36.
• The company recently increased its annual dividend to $1.3038 per share, yielding 580.0%, up from the previous annual dividend of $1.11.
• New Street Research downgraded the stock from a "strong-buy" to a "hold" rating, indicating a cautious outlook on the company's performance.

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $19.31, but opened at $20.16. PT Telekomunikasi Indonesia, Tbk shares last traded at $20.36, with a volume of 391,882 shares changing hands.

Analyst Ratings Changes

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

PT Telekomunikasi Indonesia, Tbk Price Performance

The company's 50-day moving average is $17.30 and its 200-day moving average is $16.12. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.71 and a quick ratio of 0.70. The firm has a market capitalization of $19.91 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 4.42 and a beta of 0.63.

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 paid a dividend of $1.3038 per share. This is an increase from PT Telekomunikasi Indonesia, Tbk's previous annual dividend of $1.11. This represents a dividend yield of 580.0%. The ex-dividend date was Thursday, June 12th. PT Telekomunikasi Indonesia, Tbk's dividend payout ratio (DPR) is presently 73.43%.

Institutional Trading of PT Telekomunikasi Indonesia, Tbk

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its stake in PT Telekomunikasi Indonesia, Tbk by 19.4% during the first quarter. Envestnet Asset Management Inc. now owns 884,939 shares of the utilities provider's stock worth $13,071,000 after acquiring an additional 143,928 shares in the last quarter. Cerity Partners LLC grew its stake in PT Telekomunikasi Indonesia, Tbk by 142.6% in the first quarter. Cerity Partners LLC now owns 81,784 shares of the utilities provider's stock valued at $1,208,000 after purchasing an additional 48,073 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of PT Telekomunikasi Indonesia, Tbk by 630.5% during the 1st quarter. Blue Trust Inc. now owns 7,772 shares of the utilities provider's stock worth $115,000 after acquiring an additional 6,708 shares during the period. Farther Finance Advisors LLC lifted its holdings in PT Telekomunikasi Indonesia, Tbk by 541.8% during the 1st quarter. Farther Finance Advisors LLC now owns 3,151 shares of the utilities provider's stock worth $47,000 after purchasing an additional 2,660 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in PT Telekomunikasi Indonesia, Tbk by 9.2% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 98,697 shares of the utilities provider's stock valued at $1,458,000 after acquiring an additional 8,334 shares in the last quarter.

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.