Tencent Music Entertainment Group (NYSE:TME) is OLP CAPITAL MANAGEMENT Ltd's 6th Largest Position

OLP CAPITAL MANAGEMENT Ltd lessened its position in Tencent Music Entertainment Group (NYSE:TME - Free Report) by 66.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,595,852 shares of the company's stock after selling 3,153,691 shares during the period. Tencent Music Entertainment Group accounts for about 2.3% of OLP CAPITAL MANAGEMENT Ltd's portfolio, making the stock its 6th biggest holding. OLP CAPITAL MANAGEMENT Ltd owned about 0.09% of Tencent Music Entertainment Group worth $18,113,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TME. PNC Financial Services Group Inc. boosted its holdings 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 acquiring an additional 1,094 shares in the last quarter. BNP Paribas boosted its holdings in Tencent Music Entertainment Group by 2.0% in the fourth quarter. BNP Paribas now owns 58,066 shares of the company's stock worth $659,000 after acquiring an additional 1,131 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in Tencent Music Entertainment Group by 4.2% in the fourth quarter. Corient Private Wealth LLC now owns 33,708 shares of the company's stock worth $383,000 after acquiring an additional 1,370 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Tencent Music Entertainment Group by 3.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,636 shares of the company's stock worth $586,000 after acquiring an additional 1,923 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in Tencent Music Entertainment Group by 5.7% in the fourth quarter. Quadrant Capital Group LLC now owns 36,604 shares of the company's stock worth $415,000 after acquiring an additional 1,981 shares in the last quarter. Institutional investors and hedge funds own 24.32% of the company's stock.

Tencent Music Entertainment Group Stock Up 1.8%

Shares of TME stock traded up $0.29 during trading hours on Friday, reaching $16.65. The company had a trading volume of 6,365,952 shares, compared to its average volume of 8,252,589. Tencent Music Entertainment Group has a 12 month low of $9.41 and a 12 month high of $17.05. 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 business has a fifty day simple moving average of $13.65 and a 200-day simple moving average of $12.47. The company has a market cap of $28.58 billion, a price-to-earnings ratio of 30.84, a price-to-earnings-growth ratio of 0.77 and a beta of 0.46.

Tencent Music Entertainment Group Increases Dividend

The firm also recently declared an annual dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 3rd were given a dividend of $0.18 per share. This represents a dividend yield of 0.9%. This is an increase from Tencent Music Entertainment Group's previous annual dividend of $0.12. The ex-dividend date was Thursday, April 3rd. Tencent Music Entertainment Group's dividend payout ratio (DPR) is presently 28.81%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TME. Mizuho increased their price target on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an "outperform" rating in a report on Wednesday, March 19th. Deutsche Bank Aktiengesellschaft upgraded Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a report on Wednesday, March 26th. Morgan Stanley reiterated an "overweight" rating on shares of Tencent Music Entertainment Group in a report on Tuesday. Sanford C. Bernstein restated an "outperform" rating on shares of Tencent Music Entertainment Group in a report on Wednesday. Finally, Nomura Securities upgraded Tencent Music Entertainment Group to a "strong-buy" rating in a report on Tuesday, April 8th. Two investment 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. Based on data from MarketBeat, Tencent Music Entertainment Group has a consensus rating of "Moderate Buy" and an average 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.