Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (NYSE:TLK) Sees Strong Trading Volume – Here’s What Happened

Shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (NYSE:TLK) saw unusually-high trading volume on Friday . Approximately 343,180 shares were traded during mid-day trading, a decline of 39% from the previous session’s volume of 562,678 shares.The stock last traded at $16.30 and had previously closed at $16.30.

Analysts Set New Price Targets

Separately, StockNews.com upgraded 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 Trading Up 0.6 %

The company has a debt-to-equity ratio of 0.14, a current ratio of 0.70 and a quick ratio of 0.69. The stock’s 50-day moving average is $16.67 and its two-hundred day moving average is $18.04. The company has a market cap of $16.24 billion, a P/E ratio of 11.39, a P/E/G ratio of 1.45 and a beta of 0.78.

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (NYSE:TLK) last released its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $0.38 earnings per share for the quarter. The firm had revenue of $2.34 billion for the quarter. Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk had a return on equity of 14.86% and a net margin of 15.12%. As a group, equities research analysts predict that Perusahaan Perseroan will post 1.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk

A number of large investors have recently made changes to their positions in TLK. Millennium Management LLC boosted its holdings in shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk by 268.1% in the second quarter. Millennium Management LLC now owns 316,621 shares of the utilities provider’s stock worth $5,921,000 after buying an additional 230,613 shares during the last quarter. Haven Global Partners LLC purchased a new position in shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk during the 4th quarter worth $3,291,000. State of New Jersey Common Pension Fund D boosted its stake in shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk by 67.0% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 284,588 shares of the utilities provider’s stock worth $5,629,000 after acquiring an additional 114,209 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk by 127.3% during the 3rd quarter. Van ECK Associates Corp now owns 198,504 shares of the utilities provider’s stock valued at $3,710,000 after acquiring an additional 111,162 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk by 2.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,521,500 shares of the utilities provider’s stock worth $74,966,000 after purchasing an additional 98,552 shares in the last quarter.

About Perusahaan Perseroan (Persero) 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.