Toronto Dominion Bank Buys Shares of 25,187 Tencent Music Entertainment Group (NYSE:TME)

Toronto Dominion Bank bought a new position in Tencent Music Entertainment Group (NYSE:TME - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 25,187 shares of the company's stock, valued at approximately $286,000.

Other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in Tencent Music Entertainment Group during the fourth quarter valued at approximately $110,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Tencent Music Entertainment Group during the fourth quarter valued at approximately $114,000. PNC Financial Services Group Inc. raised its stake in shares of Tencent Music Entertainment Group by 10.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company's stock valued at $126,000 after purchasing an additional 1,094 shares during the period. Unigestion Holding SA purchased a new stake in shares of Tencent Music Entertainment Group during the fourth quarter valued at approximately $161,000. Finally, Diametric Capital LP purchased a new stake in shares of Tencent Music Entertainment Group during the fourth quarter valued at approximately $162,000. 24.32% of the stock is owned by institutional investors and hedge funds.

Tencent Music Entertainment Group Stock Up 0.5%

Shares of NYSE:TME traded up $0.09 during midday trading on Thursday, reaching $17.79. The company had a trading volume of 2,914,136 shares, compared to its average volume of 8,154,491. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34. The stock's fifty day moving average price is $14.62 and its 200-day moving average price is $13.05. The stock has a market capitalization of $30.53 billion, a P/E ratio of 32.94, a PEG ratio of 0.77 and a beta of 0.46. Tencent Music Entertainment Group has a one year low of $9.41 and a one year 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. Shareholders of record on Thursday, April 3rd were paid a dividend of $0.18 per share. This is a positive change from Tencent Music Entertainment Group's previous annual dividend of $0.12. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a yield of 0.9%. Tencent Music Entertainment Group's payout ratio is presently 20.24%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Nomura Securities upgraded shares of Tencent Music Entertainment Group to a "strong-buy" rating in a research note on Tuesday, April 8th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Tencent Music Entertainment Group in a research note on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a research note on Wednesday, March 26th. Mizuho lifted their price objective on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an "outperform" rating in a research note on Wednesday, March 19th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, May 13th. Two investment 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 company currently has an average rating of "Moderate Buy" and an average target price 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.