UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stake in Tencent Music Entertainment Group (NYSE:TME)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of Tencent Music Entertainment Group (NYSE:TME - Free Report) by 9.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,395,945 shares of the company's stock after selling 449,068 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.26% of Tencent Music Entertainment Group worth $49,894,000 at the end of the most recent reporting period.

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

Tencent Music Entertainment Group Stock Down 4.4%

TME traded down $0.78 during trading on Friday, hitting $16.71. 4,331,842 shares of the company's stock traded hands, compared to its average volume of 8,208,500. The company's 50 day simple moving average is $14.32 and its two-hundred day simple moving average is $12.83. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.09. Tencent Music Entertainment Group has a 12-month low of $9.41 and a 12-month high of $18.06. The stock has a market capitalization of $28.68 billion, a price-to-earnings ratio of 30.99, a PEG ratio of 0.77 and a beta of 0.46.

Tencent Music Entertainment Group Increases Dividend

The company also recently declared an annual dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd were paid a $0.18 dividend. This is an increase from Tencent Music Entertainment Group's previous annual dividend of $0.12. This represents a dividend yield of 0.9%. The ex-dividend date was Thursday, April 3rd. Tencent Music Entertainment Group's dividend payout ratio (DPR) is 20.24%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TME. Sanford C. Bernstein restated an "outperform" rating on shares of Tencent Music Entertainment Group in a research note on Wednesday, May 14th. Nomura Securities upgraded Tencent Music Entertainment Group to a "strong-buy" rating in a report on Tuesday, April 8th. Mizuho boosted their target price on 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. Morgan Stanley reiterated an "overweight" rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft raised Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a report on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

Tencent Music Entertainment Group Company Profile

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.