Ramirez Asset Management Inc. Boosts Holdings in PT Telekomunikasi Indonesia, Tbk $TLK

Ramirez Asset Management Inc. increased its position in PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) by 52.5% during the third quarter, HoldingsChannel.com reports. The firm owned 535,828 shares of the utilities provider’s stock after acquiring an additional 184,478 shares during the quarter. PT Telekomunikasi Indonesia, Tbk makes up approximately 1.4% of Ramirez Asset Management Inc.’s holdings, making the stock its 13th largest holding. Ramirez Asset Management Inc.’s holdings in PT Telekomunikasi Indonesia, Tbk were worth $10,084,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Factory Mutual Insurance Co. purchased a new position in PT Telekomunikasi Indonesia, Tbk in the third quarter worth about $1,638,000. Northcape Capital Pty Ltd grew its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 33.2% during the third quarter. Northcape Capital Pty Ltd now owns 594,101 shares of the utilities provider’s stock valued at $11,181,000 after buying an additional 147,928 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of PT Telekomunikasi Indonesia, Tbk by 55.0% during the second quarter. PNC Financial Services Group Inc. now owns 36,811 shares of the utilities provider’s stock valued at $624,000 after buying an additional 13,068 shares during the last quarter. Bank of Montreal Can increased its position in shares of PT Telekomunikasi Indonesia, Tbk by 13.1% during the second quarter. Bank of Montreal Can now owns 173,442 shares of the utilities provider’s stock valued at $2,938,000 after acquiring an additional 20,141 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of PT Telekomunikasi Indonesia, Tbk by 8.3% during the second quarter. Lazard Asset Management LLC now owns 14,916,907 shares of the utilities provider’s stock valued at $252,690,000 after acquiring an additional 1,147,045 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut PT Telekomunikasi Indonesia, Tbk from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, PT Telekomunikasi Indonesia, Tbk has a consensus rating of “Reduce”.

PT Telekomunikasi Indonesia, Tbk Stock Down 1.4%

NYSE TLK opened at $19.25 on Friday. PT Telekomunikasi Indonesia, Tbk has a one year low of $13.15 and a one year high of $23.51. The stock has a 50-day moving average of $21.17 and a 200 day moving average of $20.47. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.17.

PT Telekomunikasi Indonesia, Tbk 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.