Tencent Music Entertainment Group (NYSE:TME) Shares Bought by First Trust Advisors LP

First Trust Advisors LP grew its position in Tencent Music Entertainment Group (NYSE:TME - Free Report) by 77.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,851 shares of the company's stock after acquiring an additional 25,633 shares during the quarter. First Trust Advisors LP's holdings in Tencent Music Entertainment Group were worth $668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in TME. Wilmington Savings Fund Society FSB purchased a new position in shares of Tencent Music Entertainment Group during the third quarter worth approximately $64,000. SBI Securities Co. Ltd. acquired a new position in shares of Tencent Music Entertainment Group during the fourth quarter valued at about $110,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Tencent Music Entertainment Group during the fourth quarter valued at $114,000. PNC Financial Services Group Inc. increased its holdings in shares of 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 valued at $126,000 after purchasing an additional 1,094 shares during the period. Finally, Unigestion Holding SA acquired a new stake in shares of Tencent Music Entertainment Group during the fourth quarter worth about $161,000. Institutional investors own 24.32% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on TME shares. Mizuho raised their target price on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an "outperform" rating in a report on Wednesday, March 19th. Nomura Securities upgraded Tencent Music Entertainment Group to a "strong-buy" rating in a report on Tuesday, April 8th. Morgan Stanley reaffirmed an "overweight" rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a research report on Wednesday, March 26th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Tencent Music Entertainment Group presently has a consensus rating of "Moderate Buy" and an average price target of $15.00.

Tencent Music Entertainment Group Trading Down 0.9 %

Shares of NYSE:TME traded down $0.13 during mid-day trading on Friday, reaching $14.08. 5,841,019 shares of the company were exchanged, compared to its average volume of 8,225,706. 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 firm has a market cap of $24.16 billion, a price-to-earnings ratio of 26.07, a P/E/G ratio of 0.77 and a beta of 0.46. Tencent Music Entertainment Group has a 1 year low of $9.41 and a 1 year high of $15.77. The firm's 50-day simple moving average is $13.38 and its 200 day simple moving average is $12.32.

Tencent Music Entertainment Group Increases Dividend

The firm also recently disclosed 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 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 dividend yield of 0.9%. Tencent Music Entertainment Group's dividend payout ratio (DPR) is presently 28.81%.

Tencent Music Entertainment Group 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.