Vanguard Group Inc. Has $376.12 Million Holdings in Tencent Music Entertainment Group Sponsored ADR $TME

Vanguard Group Inc. boosted its stake in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 21,455,738 shares of the company’s stock after acquiring an additional 293,385 shares during the period. Vanguard Group Inc.’s holdings in Tencent Music Entertainment Group were worth $376,119,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Krane Funds Advisors LLC lifted its stake in shares of Tencent Music Entertainment Group by 25.4% in the 3rd quarter. Krane Funds Advisors LLC now owns 19,020,641 shares of the company’s stock valued at $421,593,000 after purchasing an additional 3,856,410 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Tencent Music Entertainment Group by 0.3% during the fourth quarter. Baillie Gifford & Co. now owns 13,042,381 shares of the company’s stock worth $228,633,000 after buying an additional 35,182 shares during the last quarter. State Street Corp boosted its holdings in Tencent Music Entertainment Group by 1.3% in the 2nd quarter. State Street Corp now owns 12,553,992 shares of the company’s stock valued at $244,677,000 after purchasing an additional 155,692 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in Tencent Music Entertainment Group by 312.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,764,321 shares of the company’s stock worth $101,049,000 after buying an additional 4,366,226 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Tencent Music Entertainment Group by 7.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 5,706,740 shares of the company’s stock valued at $100,039,000 after purchasing an additional 387,109 shares during the period. 24.32% of the stock is owned by institutional investors and hedge funds.

Tencent Music Entertainment Group Trading Up 5.7%

TME opened at $9.69 on Thursday. Tencent Music Entertainment Group Sponsored ADR has a 1-year low of $8.78 and a 1-year high of $26.70. The stock has a market capitalization of $15.00 billion, a PE ratio of 9.78, a PEG ratio of 0.60 and a beta of 0.81. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $10.97 and a two-hundred day moving average price of $15.75.

Tencent Music Entertainment Group Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Thursday, April 23rd. Shareholders of record on Thursday, April 2nd were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a yield of 262.0%. This is a positive change from Tencent Music Entertainment Group’s previous annual dividend of $0.18. Tencent Music Entertainment Group’s dividend payout ratio (DPR) is currently 23.23%.

Analyst Ratings Changes

TME has been the subject of several recent research reports. Jefferies Financial Group reissued a “buy” rating and issued a $23.00 price target on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 17th. Zacks Research lowered shares of Tencent Music Entertainment Group from a “hold” rating to a “strong sell” rating in a report on Friday, April 17th. Barclays reduced their price target on shares of Tencent Music Entertainment Group from $28.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $12.00 price objective on shares of Tencent Music Entertainment Group in a report on Wednesday, March 18th. Finally, UBS Group reissued a “neutral” rating and issued a $13.00 target price (down from $26.00) on shares of Tencent Music Entertainment Group in a report on Wednesday, March 18th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.03.

Tencent Music Entertainment Group Company Profile

Tencent Music Entertainment Group (NYSE: TME) is a China-based digital music and audio entertainment platform that operates a portfolio of leading music streaming and social entertainment services. Its core consumer-facing products include streaming apps, online karaoke (KTV) services and live music and entertainment broadcasts. The company monetizes its content through a mix of subscriptions, digital music sales, in-app purchases, virtual gifting, advertising and licensing arrangements with rights holders.

The company traces its roots to the consolidation of Tencent’s music assets and was established in the mid-2010s to unify several prominent music properties under a single operating entity.