Vanguard Group Inc. boosted its position in Tencent Music Entertainment Group (NYSE:TME - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,588,812 shares of the company's stock after buying an additional 332,264 shares during the period. Vanguard Group Inc. owned approximately 1.72% of Tencent Music Entertainment Group worth $335,833,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cantillon Capital Management LLC boosted its holdings in shares of Tencent Music Entertainment Group by 18.3% in the 4th quarter. Cantillon Capital Management LLC now owns 21,840,815 shares of the company's stock valued at $247,893,000 after acquiring an additional 3,384,230 shares during the last quarter. FMR LLC lifted its position 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 valued at $71,948,000 after purchasing an additional 2,967,779 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Tencent Music Entertainment Group in the third quarter valued at $29,706,000. Contrarius Group Holdings Ltd acquired a new stake in Tencent Music Entertainment Group during the 4th quarter worth about $24,276,000. Finally, William Blair Investment Management LLC purchased a new position in shares of Tencent Music Entertainment Group during the 4th quarter valued at about $21,597,000. Institutional investors and hedge funds own 24.32% of the company's stock.
Tencent Music Entertainment Group Price Performance
TME stock traded down $1.39 during trading on Friday, hitting $12.94. The stock had a trading volume of 11,210,578 shares, compared to its average volume of 8,190,187. Tencent Music Entertainment Group has a twelve month low of $9.41 and a twelve month high of $15.77. The company's 50-day moving average price is $13.12 and its two-hundred day moving average price is $12.11. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34. The stock has a market capitalization of $22.20 billion, a P/E ratio of 23.95, a PEG ratio of 0.77 and a beta of 0.50.
Tencent Music Entertainment Group Increases Dividend
The company also recently declared an annual dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be paid a $0.18 dividend. The ex-dividend date is Thursday, April 3rd. This is a positive change 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%.
Analysts Set New Price Targets
TME has been the topic of a number of recent research reports. Morgan Stanley restated an "overweight" rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft upgraded Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a research report on Wednesday, March 26th. Finally, Mizuho lifted their target price on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an "outperform" rating in a report on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $15.00.
View Our Latest Stock Report on Tencent Music Entertainment Group
Tencent Music Entertainment Group 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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