Artisan Partners Limited Partnership Takes $113.03 Million Position in Tencent Music Entertainment Group (NYSE:TME)

Artisan Partners Limited Partnership purchased a new position in Tencent Music Entertainment Group (NYSE:TME - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,958,720 shares of the company's stock, valued at approximately $113,031,000. Artisan Partners Limited Partnership owned 0.58% of Tencent Music Entertainment Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TME. Vanguard Group Inc. grew its position in Tencent Music Entertainment Group by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 29,588,812 shares of the company's stock worth $335,833,000 after buying an additional 332,264 shares in the last quarter. Cantillon Capital Management LLC grew its holdings in shares of Tencent Music Entertainment Group by 18.3% during the fourth quarter. Cantillon Capital Management LLC now owns 21,840,815 shares of the company's stock worth $247,893,000 after purchasing an additional 3,384,230 shares in the last quarter. State Street Corp increased its position in shares of Tencent Music Entertainment Group by 1.3% in the third quarter. State Street Corp now owns 12,821,488 shares of the company's stock worth $154,499,000 after purchasing an additional 166,225 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Tencent Music Entertainment Group by 8.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 6,496,359 shares of the company's stock worth $73,539,000 after purchasing an additional 522,599 shares during the last quarter. Finally, FMR LLC raised its stake in Tencent Music Entertainment Group by 98.8% in the third quarter. FMR LLC now owns 5,970,773 shares of the company's stock valued at $71,948,000 after purchasing an additional 2,967,779 shares in the last quarter. Institutional investors own 24.32% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TME shares. Morgan Stanley reissued an "overweight" rating on shares of Tencent Music Entertainment Group in a report on Tuesday, March 18th. Mizuho upped their price objective 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. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a research report on Wednesday, March 26th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Tencent Music Entertainment Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

Tencent Music Entertainment Group Trading Up 0.5 %

TME stock traded up $0.07 on Tuesday, reaching $14.48. The company's stock had a trading volume of 6,291,892 shares, compared to its average volume of 8,169,462. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34. The business has a fifty day simple moving average of $12.96 and a two-hundred day simple moving average of $12.05. The firm has a market cap of $24.84 billion, a PE ratio of 26.81, a PEG ratio of 0.77 and a beta of 0.70. Tencent Music Entertainment Group has a 12-month low of $9.41 and a 12-month high of $15.77.

Tencent Music Entertainment Group Increases Dividend

The business also recently announced an annual dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.18 per share. This is a positive change from Tencent Music Entertainment Group's previous annual dividend of $0.12. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a dividend yield of 0.9%. Tencent Music Entertainment Group's payout ratio is presently 28.81%.

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.