59,021 Shares of PT Telekomunikasi Indonesia, Tbk $TLK Bought by Sterling Investment Management LLC

Sterling Investment Management LLC acquired a new stake in PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 59,021 shares of the utilities provider’s stock, valued at approximately $753,000.

A number of other large investors have also added to or reduced their stakes in TLK. Lazard Asset Management LLC lifted its position in shares of PT Telekomunikasi Indonesia, Tbk by 23.4% in the 1st quarter. Lazard Asset Management LLC now owns 25,129,891 shares of the utilities provider’s stock worth $469,426,000 after purchasing an additional 4,770,126 shares during the period. Raiffeisen Bank International AG acquired a new stake in shares of PT Telekomunikasi Indonesia, Tbk during the second quarter worth $4,784,000. Barometer Capital Management Inc. acquired a new stake in shares of PT Telekomunikasi Indonesia, Tbk during the first quarter worth $6,385,000. Sei Investments Co. increased its position in shares of PT Telekomunikasi Indonesia, Tbk by 1,021.8% during the first quarter. Sei Investments Co. now owns 289,999 shares of the utilities provider’s stock worth $5,417,000 after buying an additional 264,148 shares during the period. Finally, Engineers Gate Manager LP raised its stake in PT Telekomunikasi Indonesia, Tbk by 288.1% during the second quarter. Engineers Gate Manager LP now owns 118,281 shares of the utilities provider’s stock worth $1,589,000 after buying an additional 87,803 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TLK shares. Zacks Research upgraded shares of PT Telekomunikasi Indonesia, Tbk from a “strong sell” rating to a “hold” rating in a report on Thursday, October 8th. Wall Street Zen downgraded PT Telekomunikasi Indonesia, Tbk from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings downgraded 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. Based on data from MarketBeat.com, PT Telekomunikasi Indonesia, Tbk currently has an average rating of “Reduce”.

PT Telekomunikasi Indonesia, Tbk Trading Down 13.7%

Shares of TLK stock opened at $11.03 on Friday. PT Telekomunikasi Indonesia, Tbk has a fifty-two week low of $10.60 and a fifty-two week high of $23.51. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.78 and a current ratio of 0.79. The stock has a 50 day simple moving average of $14.04 and a two-hundred day simple moving average of $15.32. The company has a market cap of $10.92 billion, a P/E ratio of 10.60, a PEG ratio of 0.72 and a beta of 0.40.

PT Telekomunikasi Indonesia, Tbk Profile

PT Telekomunikasi Indonesia, Tbk, commonly known as Telkom Indonesia, is Indonesia’s state-controlled telecommunications and digital services company. Through its subsidiaries and business units, the company provides fixed-line and mobile communications, broadband internet, network connectivity, information technology services, cloud solutions, and digital services to consumers, businesses, government institutions, and wholesale customers.

Telkom’s consumer operations include broadband services under the IndiHome brand and mobile communications through Telkomsel, its major telecommunications subsidiary.