White Oak Capital Partners Pte. Ltd. bought a new stake in Tencent Music Entertainment Group (NYSE:TME - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 88,220 shares of the company's stock, valued at approximately $1,000,000. Tencent Music Entertainment Group comprises about 0.6% of White Oak Capital Partners Pte. Ltd.'s holdings, making the stock its 4th biggest position.
Several other institutional investors also recently added to or reduced their stakes in TME. Wilmington Savings Fund Society FSB acquired a new position in shares of Tencent Music Entertainment Group in the third quarter valued at $64,000. SBI Securities Co. Ltd. bought a new position in shares of Tencent Music Entertainment Group during the 4th quarter worth about $110,000. Oppenheimer Asset Management Inc. bought a new position in shares of Tencent Music Entertainment Group during the 4th quarter worth about $114,000. PNC Financial Services Group Inc. boosted its position in shares of Tencent Music Entertainment Group by 10.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company's stock valued at $126,000 after acquiring an additional 1,094 shares in the last quarter. Finally, Unigestion Holding SA bought a new stake in Tencent Music Entertainment Group in the fourth quarter valued at about $161,000. 24.32% of the stock is owned by institutional investors.
Tencent Music Entertainment Group Price Performance
Shares of TME stock traded up $0.09 during trading hours on Monday, hitting $13.45. 1,122,708 shares of the company's stock were exchanged, compared to its average volume of 8,298,566. The stock's 50-day moving average is $13.17 and its 200-day moving average is $12.20. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34. Tencent Music Entertainment Group has a 52 week low of $9.41 and a 52 week high of $15.77. The stock has a market cap of $23.07 billion, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of 0.77 and a beta of 0.50.
Tencent Music Entertainment Group Increases Dividend
The business also recently announced an annual dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd were paid a $0.18 dividend. The ex-dividend date 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 payout ratio is currently 28.81%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on TME shares. Deutsche Bank Aktiengesellschaft raised Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a report on Wednesday, March 26th. Nomura Securities raised Tencent Music Entertainment Group to a "strong-buy" rating in a research note on Tuesday, April 8th. Mizuho increased their price objective on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 19th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Tencent Music Entertainment Group in a report on Tuesday, March 18th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Tencent Music Entertainment Group currently has an average rating of "Moderate Buy" and a consensus price target of $15.00.
Read Our Latest Analysis on TME
Tencent Music Entertainment Group Company 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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