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

Lazard Asset Management LLC grew its holdings in PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) by 23.4% during the first quarter, Holdings Channel reports. The firm owned 25,129,891 shares of the utilities provider’s stock after acquiring an additional 4,770,126 shares during the quarter. PT Telekomunikasi Indonesia, Tbk comprises about 0.8% of Lazard Asset Management LLC’s holdings, making the stock its 25th largest position. Lazard Asset Management LLC’s holdings in PT Telekomunikasi Indonesia, Tbk were worth $469,426,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Brown Brothers Harriman & Co. increased its holdings in PT Telekomunikasi Indonesia, Tbk by 828.9% in the third quarter. Brown Brothers Harriman & Co. now owns 1,319 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 1,177 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of PT Telekomunikasi Indonesia, Tbk during the 2nd quarter worth approximately $25,000. Kestra Advisory Services LLC acquired a new stake in shares of PT Telekomunikasi Indonesia, Tbk during the 4th quarter worth approximately $36,000. Global Retirement Partners LLC bought a new stake in shares of PT Telekomunikasi Indonesia, Tbk in the 4th quarter valued at $40,000. Finally, Smartleaf Asset Management LLC increased its stake 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 in the last quarter.

Analysts Set New Price Targets

TLK has been the subject of a number of research reports. Weiss Ratings upgraded shares of PT Telekomunikasi Indonesia, Tbk from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, June 1st. Zacks Research raised shares of PT Telekomunikasi Indonesia, Tbk from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. 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, the stock has an average rating of “Reduce”.

PT Telekomunikasi Indonesia, Tbk Stock Performance

Shares of TLK stock opened at $14.43 on Monday. The firm 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. The firm has a fifty day simple moving average of $15.12 and a two-hundred day simple moving average of $17.95. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. PT Telekomunikasi Indonesia, Tbk has a 12 month low of $13.23 and a 12 month high of $23.51.

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) last posted its quarterly earnings data on Saturday, May 16th. The utilities provider reported $0.26 EPS for the quarter. The firm had revenue of $2.19 billion during the quarter. PT Telekomunikasi Indonesia, Tbk had a net margin of 11.10% and a return on equity of 10.75%. Analysts forecast 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 announced an annual dividend, which was paid on Monday, July 20th. Shareholders of record on Thursday, June 18th were given a dividend of $1.2214 per share. This represents a yield of 824.0%. The ex-dividend date was Thursday, June 18th. PT Telekomunikasi Indonesia, Tbk’s dividend payout ratio (DPR) is currently 94.95%.

About PT Telekomunikasi Indonesia, Tbk

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.