Tencent Music Entertainment Group Sponsored ADR $TME Stake Lowered by Capital World Investors

Capital World Investors reduced its stake in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 32.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,030,660 shares of the company’s stock after selling 3,438,815 shares during the period. Capital World Investors’ holdings in Tencent Music Entertainment Group were worth $123,247,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. WINTON GROUP Ltd purchased a new position in shares of Tencent Music Entertainment Group during the 4th quarter valued at $189,000. Harvest Fund Management Co. Ltd grew its holdings in shares of Tencent Music Entertainment Group by 5.2% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 141,318 shares of the company’s stock valued at $2,476,000 after acquiring an additional 6,950 shares in the last quarter. Prudential PLC grew its holdings in shares of Tencent Music Entertainment Group by 27.0% during the 4th quarter. Prudential PLC now owns 537,244 shares of the company’s stock valued at $9,418,000 after acquiring an additional 114,054 shares in the last quarter. Vise Technologies Inc. grew its holdings in shares of Tencent Music Entertainment Group by 5.0% during the 4th quarter. Vise Technologies Inc. now owns 14,648 shares of the company’s stock valued at $257,000 after acquiring an additional 692 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Tencent Music Entertainment Group by 18.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 21,000 shares of the company’s stock valued at $368,000 after acquiring an additional 3,300 shares in the last quarter. 24.32% of the stock is currently owned by hedge funds and other institutional investors.

Tencent Music Entertainment Group Trading Up 0.1%

Shares of NYSE:TME opened at $9.09 on Tuesday. The stock has a market capitalization of $14.30 billion, a PE ratio of 11.36, a P/E/G ratio of 0.59 and a beta of 0.80. Tencent Music Entertainment Group Sponsored ADR has a 1 year low of $8.44 and a 1 year high of $26.70. The firm has a fifty day moving average price of $9.28 and a 200 day moving average price of $13.71. The company has a current ratio of 2.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.06.

Tencent Music Entertainment Group (NYSE:TME) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter. The firm had revenue of $1.15 billion during the quarter. Tencent Music Entertainment Group had a net margin of 26.45% and a return on equity of 11.20%. Analysts expect that Tencent Music Entertainment Group Sponsored ADR will post 0.9 EPS for the current fiscal year.

Tencent Music Entertainment Group Increases Dividend

The company also recently declared 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. This represents a yield of 262.0%. This is a positive change from Tencent Music Entertainment Group’s previous annual dividend of $0.18. The ex-dividend date was Thursday, April 2nd. Tencent Music Entertainment Group’s dividend payout ratio is currently 28.75%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TME shares. Barclays lowered 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 report on Thursday, March 19th. Morgan Stanley restated an “equal weight” rating on shares of Tencent Music Entertainment Group in a report on Thursday, March 19th. Jefferies Financial Group reiterated a “buy” rating and issued a $23.00 price objective on shares of Tencent Music Entertainment Group in a report on Tuesday, March 17th. Mizuho decreased their price objective on shares of Tencent Music Entertainment Group from $23.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Finally, Daiwa Securities Group reiterated a “hold” rating and issued a $12.00 price objective on shares of Tencent Music Entertainment Group in a report on Wednesday, March 18th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.44.

Tencent Music Entertainment Group 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.