Sterling Investment Management LLC Makes New Investment in PT Telekomunikasi Indonesia, Tbk $TLK

Sterling Investment Management LLC purchased a new position in PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 59,021 shares of the utilities provider’s stock, valued at approximately $753,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MidFirst Bank acquired a new stake in shares of PT Telekomunikasi Indonesia, Tbk in the 4th quarter valued at about $54,000. Ballast Advisors LLC bought a new stake in PT Telekomunikasi Indonesia, Tbk in the 1st quarter valued at about $48,000. Assetmark Inc. raised its stake in PT Telekomunikasi Indonesia, Tbk by 24.7% during the 1st quarter. Assetmark Inc. now owns 3,716 shares of the utilities provider’s stock worth $69,000 after buying an additional 737 shares during the period. GAMMA Investing LLC raised its stake in PT Telekomunikasi Indonesia, Tbk by 28.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,140 shares of the utilities provider’s stock worth $56,000 after buying an additional 910 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in PT Telekomunikasi Indonesia, Tbk by 33.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,650 shares of the utilities provider’s stock worth $87,000 after buying an additional 1,167 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TLK. Weiss Ratings lowered PT Telekomunikasi Indonesia, Tbk from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, July 31st. Wall Street Zen cut PT Telekomunikasi Indonesia, Tbk from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Zacks Research upgraded PT Telekomunikasi Indonesia, Tbk from a “strong sell” rating to a “hold” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, PT Telekomunikasi Indonesia, Tbk presently has an average rating of “Reduce”.

PT Telekomunikasi Indonesia, Tbk Stock Performance

Shares of TLK stock opened at $11.03 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20. The firm has a fifty day simple moving average of $14.04 and a two-hundred day simple moving average of $15.32. PT Telekomunikasi Indonesia, Tbk has a 12 month low of $10.60 and a 12 month high of $23.51. The firm has a market capitalization of $10.92 billion, a PE ratio of 10.60, a price-to-earnings-growth 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.