Allspring Global Investments Holdings LLC Cuts Holdings in PT Telekomunikasi Indonesia, Tbk $TLK

Allspring Global Investments Holdings LLC decreased its holdings in PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) by 9.6% in the 1st quarter, HoldingsChannel reports. The fund owned 2,657,220 shares of the utilities provider’s stock after selling 281,317 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in PT Telekomunikasi Indonesia, Tbk were worth $49,956,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TLK. Royal Bank of Canada boosted its position in PT Telekomunikasi Indonesia, Tbk by 20.7% during the first quarter. Royal Bank of Canada now owns 366,681 shares of the utilities provider’s stock worth $5,416,000 after purchasing an additional 62,882 shares in the last quarter. Millennium Management LLC increased its position in PT Telekomunikasi Indonesia, Tbk by 606.8% during the 1st quarter. Millennium Management LLC now owns 468,651 shares of the utilities provider’s stock worth $6,922,000 after purchasing an additional 402,344 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in PT Telekomunikasi Indonesia, Tbk by 271.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 145,652 shares of the utilities provider’s stock valued at $2,151,000 after purchasing an additional 106,481 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in PT Telekomunikasi Indonesia, Tbk by 136.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,511 shares of the utilities provider’s stock valued at $59,000 after purchasing an additional 2,023 shares during the last quarter. Finally, First Trust Advisors LP purchased a new position in PT Telekomunikasi Indonesia, Tbk in the 2nd quarter valued at about $513,000.

PT Telekomunikasi Indonesia, Tbk Price Performance

PT Telekomunikasi Indonesia, Tbk stock opened at $14.64 on Friday. PT Telekomunikasi Indonesia, Tbk has a 1 year low of $13.23 and a 1 year high of $23.51. The firm has a 50 day moving average price of $15.33 and a 200 day moving average price of $18.20. The company has a market cap of $14.50 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 2.66 and a beta of 0.37. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 0.92.

PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) last posted its quarterly earnings results on Saturday, May 16th. The utilities provider reported $0.26 earnings per share for the quarter. The company had revenue of $2.19 billion for the quarter. PT Telekomunikasi Indonesia, Tbk had a net margin of 11.10% and a return on equity of 10.75%. Sell-side analysts predict that PT Telekomunikasi Indonesia, Tbk will post 2.04 earnings per share for the current year.

PT Telekomunikasi Indonesia, Tbk Cuts Dividend

The company also recently declared an annual dividend, which will be paid on Monday, July 20th. Shareholders of record on Thursday, June 18th will be given a dividend of $1.2214 per share. This represents a yield of 824.0%. The ex-dividend date of this dividend is Thursday, June 18th. PT Telekomunikasi Indonesia, Tbk’s payout ratio is 94.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TLK shares. Zacks Research raised shares of PT Telekomunikasi Indonesia, Tbk from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings raised shares of PT Telekomunikasi Indonesia, Tbk from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, June 1st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce”.

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.