PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) from a hold rating to a buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

TLK has been the subject of several other reports. Zacks Research upgraded PT Telekomunikasi Indonesia, Tbk from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings cut PT Telekomunikasi Indonesia, Tbk from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, PT Telekomunikasi Indonesia, Tbk presently has an average rating of “Reduce”.

PT Telekomunikasi Indonesia, Tbk Price Performance

NYSE:TLK opened at $14.84 on Friday. PT Telekomunikasi Indonesia, Tbk has a 12-month low of $13.23 and a 12-month high of $23.51. The firm has a market cap of $14.70 billion, a price-to-earnings ratio of 14.27 and a beta of 0.35. The company’s 50-day moving average is $14.52 and its two-hundred day moving average is $16.59. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20.

PT Telekomunikasi Indonesia, Tbk Cuts Dividend

The business also recently announced an annual dividend, which was paid on Monday, July 20th. Investors of record on Thursday, June 18th were given a $1.2214 dividend. The ex-dividend date of this dividend was Thursday, June 18th. This represents a dividend yield of 824.0%. PT Telekomunikasi Indonesia, Tbk’s dividend payout ratio (DPR) is currently 90.38%.

Hedge Funds Weigh In On PT Telekomunikasi Indonesia, Tbk

Several institutional investors and hedge funds have recently bought and sold shares of TLK. Lazard Asset Management LLC raised its stake in PT Telekomunikasi Indonesia, Tbk by 34.6% during the third quarter. Lazard Asset Management LLC now owns 20,071,706 shares of the utilities provider’s stock worth $377,750,000 after purchasing an additional 5,154,799 shares during the period. Millennium Management LLC grew its stake in shares of PT Telekomunikasi Indonesia, Tbk by 606.8% during the 1st quarter. Millennium Management LLC now owns 468,651 shares of the utilities provider’s stock valued at $6,922,000 after buying an additional 402,344 shares during the period. Raiffeisen Bank International AG purchased a new stake in shares of PT Telekomunikasi Indonesia, Tbk during the 2nd quarter valued at $4,784,000. Barometer Capital Management Inc. acquired a new stake in shares of PT Telekomunikasi Indonesia, Tbk during the 1st quarter worth $6,385,000. Finally, First Trust Advisors LP increased its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 1,041.8% during the 3rd quarter. First Trust Advisors LP now owns 345,772 shares of the utilities provider’s stock worth $6,507,000 after buying an additional 315,488 shares during the last quarter.

PT Telekomunikasi Indonesia, Tbk Company Profile

PT Telekomunikasi Indonesia, Tbk, commonly known as Telkom Indonesia, is Indonesia’s largest integrated telecommunications provider. The company’s core operations encompass the provision of fixed-line and mobile voice services, broadband internet, and network infrastructure. It serves a broad customer base that includes residential subscribers, businesses, government agencies and wholesale partners, offering connectivity across urban and rural areas of Indonesia.

Telkom’s product and service portfolio spans consumer broadband and digital entertainment, enterprise ICT solutions, managed network services, data center and cloud platforms, and wholesale international connectivity.