Tencent Music Entertainment Group (NYSE:TME) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in shares of Tencent Music Entertainment Group (NYSE:TME - Free Report) by 558.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,773,523 shares of the company's stock after purchasing an additional 9,984,690 shares during the quarter. JPMorgan Chase & Co. owned about 0.69% of Tencent Music Entertainment Group worth $133,629,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in TME. Thrivent Financial for Lutherans boosted its stake in Tencent Music Entertainment Group by 31.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 15,550 shares of the company's stock worth $187,000 after buying an additional 3,746 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of Tencent Music Entertainment Group by 9.1% in the third quarter. Intech Investment Management LLC now owns 19,850 shares of the company's stock worth $239,000 after acquiring an additional 1,664 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Tencent Music Entertainment Group by 15.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 877,343 shares of the company's stock valued at $10,572,000 after purchasing an additional 115,315 shares during the period. Bank of Montreal Can increased its position in Tencent Music Entertainment Group by 86.0% during the third quarter. Bank of Montreal Can now owns 181,991 shares of the company's stock worth $2,235,000 after purchasing an additional 84,161 shares during the last quarter. Finally, FMR LLC raised its stake in Tencent Music Entertainment Group by 98.8% during the third quarter. FMR LLC now owns 5,970,773 shares of the company's stock worth $71,948,000 after purchasing an additional 2,967,779 shares during the period. 24.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TME has been the subject of several research reports. Mizuho boosted their price objective on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an "outperform" rating in a research note on Wednesday, March 19th. Morgan Stanley restated an "overweight" rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 18th. Finally, Deutsche Bank Aktiengesellschaft raised Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a research note on Wednesday, March 26th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $15.00.

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Tencent Music Entertainment Group Price Performance

Shares of NYSE TME opened at $14.48 on Wednesday. The company has a market capitalization of $24.84 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 0.77 and a beta of 0.70. 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 1-year low of $9.41 and a 1-year high of $15.77. The business has a 50-day moving average of $12.96 and a 200-day moving average of $12.05.

Tencent Music Entertainment Group Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Thursday, April 3rd. This represents a dividend yield of 0.9%. This is a positive change from Tencent Music Entertainment Group's previous annual dividend of $0.12. Tencent Music Entertainment Group's dividend payout ratio (DPR) is currently 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.

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