Ballentine Partners LLC Cuts Stake in Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (NYSE:TLK)

Ballentine Partners LLC lowered its stake in shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (NYSE:TLK) by 16.4% in the third quarter, Holdings Channel reports. The firm owned 10,841 shares of the utilities provider’s stock after selling 2,130 shares during the period. Ballentine Partners LLC’s holdings in Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk were worth $214,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its stake in Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk by 12.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,567,419 shares of the utilities provider’s stock valued at $85,411,000 after acquiring an additional 492,128 shares in the last quarter. Millennium Management LLC grew its stake in Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk by 268.1% during the 2nd quarter. Millennium Management LLC now owns 316,621 shares of the utilities provider’s stock valued at $5,921,000 after acquiring an additional 230,613 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk during the 2nd quarter valued at about $2,301,000. Cubist Systematic Strategies LLC purchased a new stake in Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk during the 2nd quarter valued at about $2,163,000. Finally, Oldfield Partners LLP grew its stake in Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk by 17.2% during the 3rd quarter. Oldfield Partners LLP now owns 439,424 shares of the utilities provider’s stock valued at $8,692,000 after acquiring an additional 64,429 shares in the last quarter.

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk Price Performance

Shares of TLK stock opened at $18.24 on Wednesday. The firm’s 50 day moving average price is $19.49 and its 200-day moving average price is $18.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.65 and a current ratio of 0.66. Perusahaan Perseroan has a one year low of $16.62 and a one year high of $26.85.

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (NYSE:TLK) last issued its quarterly earnings data on Monday, July 29th. The utilities provider reported $0.36 EPS for the quarter. Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk had a net margin of 15.65% and a return on equity of 15.39%. The firm had revenue of $2.35 billion for the quarter. On average, research analysts forecast that Perusahaan Perseroan will post 1.65 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk from a “hold” rating to a “buy” rating in a research note on Friday, October 4th.

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk Company Profile

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk provides information and communications technology, and telecommunications network services worldwide. The company operates through mobile, consumer, enterprise, Wholesale and International Business, and Other segments. The Mobile segment offers mobile voice, SMS, value added services, and mobile broadband services.