Nomura Holdings Inc. Trims Stock Position in Tencent Music Entertainment Group (NYSE:TME)

Nomura Holdings Inc. lowered its position in shares of Tencent Music Entertainment Group (NYSE:TME - Free Report) by 83.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,789 shares of the company's stock after selling 237,538 shares during the period. Nomura Holdings Inc.'s holdings in Tencent Music Entertainment Group were worth $542,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in Tencent Music Entertainment Group by 558.2% in the 4th quarter. JPMorgan Chase & Co. now owns 11,773,523 shares of the company's stock worth $133,629,000 after buying an additional 9,984,690 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in Tencent Music Entertainment Group in the 4th quarter worth approximately $113,031,000. Norges Bank purchased a new position in Tencent Music Entertainment Group in the 4th quarter worth approximately $99,539,000. Mawer Investment Management Ltd. grew its stake in Tencent Music Entertainment Group by 152.2% in the 4th quarter. Mawer Investment Management Ltd. now owns 11,467,410 shares of the company's stock worth $130,155,000 after buying an additional 6,919,574 shares in the last quarter. Finally, Schroder Investment Management Group grew its stake in Tencent Music Entertainment Group by 6.7% in the 4th quarter. Schroder Investment Management Group now owns 63,064,552 shares of the company's stock worth $715,783,000 after buying an additional 3,987,116 shares in the last quarter. Hedge funds and other institutional investors own 24.32% of the company's stock.

Tencent Music Entertainment Group Trading Up 0.1%

Shares of TME opened at $17.02 on Thursday. The firm has a market cap of $29.21 billion, a price-to-earnings ratio of 31.52, a PEG ratio of 0.77 and a beta of 0.46. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34. Tencent Music Entertainment Group has a fifty-two week low of $9.41 and a fifty-two week high of $17.30. The firm has a 50 day moving average price of $13.92 and a 200-day moving average price of $12.58.

Tencent Music Entertainment Group Increases Dividend

The company also recently declared an annual dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 3rd were issued a dividend of $0.18 per share. This is a positive change from Tencent Music Entertainment Group's previous annual dividend of $0.12. This represents a yield of 0.9%. The ex-dividend date was Thursday, April 3rd. Tencent Music Entertainment Group's dividend payout ratio is currently 20.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TME shares. Sanford C. Bernstein reissued an "outperform" rating on shares of Tencent Music Entertainment Group in a research note on Wednesday, May 14th. Morgan Stanley reissued an "overweight" rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, May 13th. Mizuho boosted their price target on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 19th. Nomura Securities raised shares of Tencent Music Entertainment Group to a "strong-buy" rating in a research note on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a report on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $15.00.

About Tencent Music Entertainment Group

Tencent Music Entertainment Group operates online music entertainment platforms to provide music streaming, online karaoke, and live streaming services in the People's Republic of China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover music in personalized ways; long-form audio content, including audiobooks, podcasts and talk shows, as well as music-oriented video content comprising music videos, live performances, and short videos; and WeSing, which enables users to sing along from its library of karaoke songs and share their performances in audio or video formats with friends.

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