PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) Lifted to Buy at Citigroup Inc.

Citigroup Inc. upgraded shares of PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) from a neutral rating to a buy rating in a research note released on Tuesday, November 7th, MarketBeat reports.

A number of other analysts have also issued reports on the stock. BidaskClub lowered shares of PT Telekomunikasi Indonesia, Tbk from a buy rating to a hold rating in a research note on Monday, July 24th. Macquarie lowered shares of PT Telekomunikasi Indonesia, Tbk from an outperform rating to a neutral rating in a research note on Monday, October 16th. Finally, UBS AG lowered shares of PT Telekomunikasi Indonesia, Tbk from a neutral rating to a sell rating in a research note on Friday, September 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. PT Telekomunikasi Indonesia, Tbk presently has a consensus rating of Hold.

Shares of PT Telekomunikasi Indonesia, Tbk (NYSE TLK) traded up $0.14 during mid-day trading on Tuesday, reaching $30.81. 429,400 shares of the company’s stock were exchanged, compared to its average volume of 308,980. PT Telekomunikasi Indonesia, Tbk has a 1 year low of $27.17 and a 1 year high of $36.19. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.17 and a current ratio of 1.19.

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Large investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership increased its stake in shares of PT Telekomunikasi Indonesia, Tbk by 47.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,249,371 shares of the utilities provider’s stock worth $42,066,000 after buying an additional 399,591 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of PT Telekomunikasi Indonesia, Tbk by 18.2% in the second quarter. Renaissance Technologies LLC now owns 2,095,600 shares of the utilities provider’s stock worth $70,559,000 after buying an additional 323,000 shares during the last quarter. Pictet Asset Management Ltd. increased its stake in shares of PT Telekomunikasi Indonesia, Tbk by 48.4% in the third quarter. Pictet Asset Management Ltd. now owns 608,159 shares of the utilities provider’s stock worth $20,860,000 after buying an additional 198,468 shares during the last quarter. Duff & Phelps Investment Management Co. bought a new stake in shares of PT Telekomunikasi Indonesia, Tbk in the second quarter worth $5,389,000. Finally, Wells Fargo & Company MN increased its stake in shares of PT Telekomunikasi Indonesia, Tbk by 2.6% in the third quarter. Wells Fargo & Company MN now owns 2,838,348 shares of the utilities provider’s stock worth $97,355,000 after buying an additional 71,131 shares during the last quarter. Institutional investors and hedge funds own 5.74% of the company’s stock.

PT Telekomunikasi Indonesia, Tbk Company Profile

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk offers telecommunications and network services. The Company’s segments include Corporate, Home, Personal and Others. The Corporate segment provides telecommunications services, including interconnection, leased lines, satellite, contact center, broadband access, information technology services, and data and Internet services to companies and institutions.

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