Tidal Investments LLC trimmed its position in shares of Tencent Music Entertainment Group (NYSE:TME - Free Report) by 22.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,881 shares of the company's stock after selling 26,187 shares during the period. Tidal Investments LLC's holdings in Tencent Music Entertainment Group were worth $1,020,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in TME. Barclays PLC increased its holdings in shares of Tencent Music Entertainment Group by 5.8% during the 3rd quarter. Barclays PLC now owns 762,650 shares of the company's stock worth $9,189,000 after buying an additional 41,990 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Tencent Music Entertainment Group by 232.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 129,170 shares of the company's stock worth $1,466,000 after buying an additional 90,329 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Tencent Music Entertainment Group during the 4th quarter worth $370,000. Matthews International Capital Management LLC increased its holdings in shares of Tencent Music Entertainment Group by 136.9% during the 4th quarter. Matthews International Capital Management LLC now owns 756,957 shares of the company's stock worth $8,591,000 after buying an additional 437,418 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Tencent Music Entertainment Group by 0.5% during the 4th quarter. Jennison Associates LLC now owns 2,833,838 shares of the company's stock worth $32,164,000 after buying an additional 14,971 shares during the last quarter. 24.32% of the stock is currently owned by institutional investors and hedge funds.
Tencent Music Entertainment Group Stock Down 0.1%
Shares of Tencent Music Entertainment Group stock traded down $0.01 during trading hours on Wednesday, hitting $17.90. 4,811,158 shares of the company's stock traded hands, compared to its average volume of 8,217,888. The stock has a 50 day simple moving average of $14.18 and a 200-day simple moving average of $12.75. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. The company has a market cap of $30.72 billion, a PE ratio of 33.15, a PEG ratio of 0.77 and a beta of 0.46. Tencent Music Entertainment Group has a twelve month low of $9.41 and a twelve month high of $18.06.
Tencent Music Entertainment Group Increases Dividend
The firm also recently announced an annual dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This is an increase from Tencent Music Entertainment Group's previous annual dividend of $0.12. This represents a dividend yield of 0.9%. Tencent Music Entertainment Group's dividend payout ratio (DPR) is currently 20.24%.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on TME. Sanford C. Bernstein reiterated an "outperform" rating on shares of Tencent Music Entertainment Group in a report on Wednesday, May 14th. Nomura Securities upgraded Tencent Music Entertainment Group to a "strong-buy" rating in a report on Tuesday, April 8th. Morgan Stanley reiterated an "overweight" rating on shares of Tencent Music Entertainment Group in a report on Tuesday, May 13th. Mizuho increased their price target on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an "outperform" rating in a report on Wednesday, March 19th. Finally, Deutsche Bank Aktiengesellschaft upgraded 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tencent Music Entertainment Group presently has an average rating of "Moderate Buy" and an average price target of $15.00.
Read Our Latest Analysis on TME
Tencent Music Entertainment Group Profile
(
Free Report)
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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