Tencent Music Entertainment Group Sponsored ADR $TME Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. raised its stake in Tencent Music (NYSE:TME) by 1.4% in Q4, buying 293,385 shares to hold 21,455,738 shares valued at about $376.12 million.
• Tencent Music increased its annual dividend to $0.24 per share (up from $0.18), paid April 23 with an ex-dividend date of April 2 and a payout ratio of 23.23%.
• Shares were trading up 5.7% (opened at $9.69); the company has a market cap of $15.0 billion, a P/E of 9.78, a 52‑week range of $8.78–$26.70, and an analyst consensus of Hold with a $22.03 target.

Vanguard Group Inc. increased its stake in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,455,738 shares of the company's stock after buying an additional 293,385 shares during the quarter. Vanguard Group Inc.'s holdings in Tencent Music Entertainment Group were worth $376,119,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TME. Sava Infond d.o.o. raised its stake in shares of Tencent Music Entertainment Group by 5.7% during the fourth quarter. Sava Infond d.o.o. now owns 47,490 shares of the company's stock valued at $832,000 after purchasing an additional 2,550 shares during the period. B. Metzler seel. Sohn & Co. AG boosted its position in Tencent Music Entertainment Group by 44.2% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 249,887 shares of the company's stock valued at $4,381,000 after buying an additional 76,535 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Tencent Music Entertainment Group by 414.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,130,608 shares of the company's stock worth $19,820,000 after acquiring an additional 910,767 shares during the last quarter. GF Fund Management CO. LTD. boosted its holdings in Tencent Music Entertainment Group by 4.5% in the fourth quarter. GF Fund Management CO. LTD. now owns 488,323 shares of the company's stock valued at $8,560,000 after purchasing an additional 21,209 shares during the last quarter. Finally, LBP AM SA increased its holdings in Tencent Music Entertainment Group by 8.3% during the 4th quarter. LBP AM SA now owns 104,000 shares of the company's stock worth $1,823,000 after purchasing an additional 8,000 shares during the last quarter. 24.32% of the stock is owned by institutional investors and hedge funds.

Tencent Music Entertainment Group Trading Up 5.7%

Shares of Tencent Music Entertainment Group stock opened at $9.69 on Thursday. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $10.97 and a 200-day simple moving average of $15.75. Tencent Music Entertainment Group Sponsored ADR has a fifty-two week low of $8.78 and a fifty-two week high of $26.70. The firm has a market cap of $15.00 billion, a price-to-earnings ratio of 9.78, a price-to-earnings-growth ratio of 0.60 and a beta of 0.81.

Tencent Music Entertainment Group Increases Dividend

The business also recently announced an annual dividend, which was paid on Thursday, April 23rd. Stockholders of record on Thursday, April 2nd were given a dividend of $0.24 per share. This represents a dividend yield of 262.0%. This is a boost from Tencent Music Entertainment Group's previous annual dividend of $0.18. The ex-dividend date of this dividend was Thursday, April 2nd. Tencent Music Entertainment Group's payout ratio is presently 23.23%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Daiwa Securities Group reissued a "hold" rating and set a $12.00 price objective on shares of Tencent Music Entertainment Group in a report on Wednesday, March 18th. Barclays dropped their target price on shares of Tencent Music Entertainment Group from $28.00 to $20.00 and set an "overweight" rating on the stock in a report on Thursday, March 19th. Mizuho decreased their target price on Tencent Music Entertainment Group from $28.00 to $23.00 and set an "outperform" rating for the company in a research note on Wednesday, March 18th. Benchmark restated a "hold" rating on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $12.00 price objective on shares of Tencent Music Entertainment Group in a report on Wednesday, March 18th. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $22.03.

About Tencent Music Entertainment Group

Tencent Music Entertainment Group NYSE: TME is a China-based digital music and audio entertainment platform that operates a portfolio of leading music streaming and social entertainment services. Its core consumer-facing products include streaming apps, online karaoke (KTV) services and live music and entertainment broadcasts. The company monetizes its content through a mix of subscriptions, digital music sales, in-app purchases, virtual gifting, advertising and licensing arrangements with rights holders.

The company traces its roots to the consolidation of Tencent's music assets and was established in the mid-2010s to unify several prominent music properties under a single operating entity.

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