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

Allspring Global Investments Holdings LLC lessened its position in shares of PT Telekomunikasi Indonesia, Tbk (NYSE:TLK) by 6.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,949,065 shares of the utilities provider’s stock after selling 256,202 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.40% of PT Telekomunikasi Indonesia, Tbk worth $67,726,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. purchased a new position in shares of PT Telekomunikasi Indonesia, Tbk in the 1st quarter valued at approximately $33,124,000. Envestnet Asset Management Inc. grew its stake in shares of PT Telekomunikasi Indonesia, Tbk by 19.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 884,939 shares of the utilities provider’s stock valued at $13,071,000 after purchasing an additional 143,928 shares during the last quarter. Northern Trust Corp grew its stake in shares of PT Telekomunikasi Indonesia, Tbk by 106.2% in the 1st quarter. Northern Trust Corp now owns 855,287 shares of the utilities provider’s stock valued at $12,633,000 after purchasing an additional 440,426 shares during the last quarter. American Century Companies Inc. grew its stake in shares of PT Telekomunikasi Indonesia, Tbk by 10.4% in the 1st quarter. American Century Companies Inc. now owns 642,686 shares of the utilities provider’s stock valued at $9,492,000 after purchasing an additional 60,697 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of PT Telekomunikasi Indonesia, Tbk by 606.8% in the 1st quarter. Millennium Management LLC now owns 468,651 shares of the utilities provider’s stock valued at $6,922,000 after purchasing an additional 402,344 shares during the last quarter.

PT Telekomunikasi Indonesia, Tbk Stock Up 1.4%

TLK opened at $18.55 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.71 and a quick ratio of 0.70. The business has a 50 day simple moving average of $19.17 and a 200-day simple moving average of $17.27. The stock has a market capitalization of $18.38 billion, a P/E ratio of 12.97, a P/E/G ratio of 4.03 and a beta of 0.61. PT Telekomunikasi Indonesia, Tbk has a 12 month low of $13.15 and a 12 month high of $20.98.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TLK. New Street Research downgraded PT Telekomunikasi Indonesia, Tbk from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 17th. Weiss Ratings reiterated a “sell (d+)” rating on shares of PT Telekomunikasi Indonesia, Tbk in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

About PT Telekomunikasi Indonesia, Tbk

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.