Lazard Asset Management LLC Buys 4,770,126 Shares of PT Telekomunikasi Indonesia, Tbk $TLK

Lazard Asset Management LLC grew its stake in PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) by 23.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,129,891 shares of the utilities provider’s stock after acquiring an additional 4,770,126 shares during the period. PT Telekomunikasi Indonesia, Tbk accounts for about 0.8% of Lazard Asset Management LLC’s investment portfolio, making the stock its 25th biggest position. Lazard Asset Management LLC owned approximately 2.54% of PT Telekomunikasi Indonesia, Tbk worth $469,426,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Brown Brothers Harriman & Co. lifted its holdings in PT Telekomunikasi Indonesia, Tbk by 828.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,319 shares of the utilities provider’s stock worth $25,000 after buying an additional 1,177 shares in the last quarter. Raymond James Financial Inc. bought a new stake in PT Telekomunikasi Indonesia, Tbk during the 2nd quarter worth about $25,000. Kestra Advisory Services LLC bought a new stake in shares of PT Telekomunikasi Indonesia, Tbk during the 4th quarter valued at $36,000. Smartleaf Asset Management LLC raised its position in shares of PT Telekomunikasi Indonesia, Tbk by 70.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,222 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 921 shares during the period. Finally, Global Retirement Partners LLC acquired a new stake in PT Telekomunikasi Indonesia, Tbk during the 4th quarter worth $40,000.

Analyst Ratings Changes

Several research firms recently commented on TLK. Weiss Ratings upgraded shares of PT Telekomunikasi Indonesia, Tbk from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, June 1st. Zacks Research raised PT Telekomunikasi Indonesia, Tbk from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. 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 Up 0.0%

Shares of NYSE:TLK opened at $14.43 on Monday. PT Telekomunikasi Indonesia, Tbk has a 52-week low of $13.23 and a 52-week high of $23.51. The company has a fifty day moving average of $15.12 and a 200-day moving average of $17.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 0.92. The company has a market capitalization of $14.29 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 3.03 and a beta of 0.37.

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) last announced its quarterly earnings results on Saturday, May 16th. The utilities provider reported $0.26 EPS for the quarter. PT Telekomunikasi Indonesia, Tbk had a return on equity of 10.75% and a net margin of 11.10%.The firm had revenue of $2.19 billion for the quarter. On average, equities analysts predict that PT Telekomunikasi Indonesia, Tbk will post 1.77 EPS for the current fiscal year.

PT Telekomunikasi Indonesia, Tbk Cuts Dividend

The firm also recently disclosed an annual dividend, which was paid on Monday, July 20th. Investors of record on Thursday, June 18th were paid 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 payout ratio is currently 94.95%.

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.