Tencent Music Entertainment Group (NYSE:TME) Shares Sold by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. lessened its position in shares of Tencent Music Entertainment Group (NYSE:TME) by 34.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 239,750 shares of the company’s stock after selling 124,000 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Tencent Music Entertainment Group were worth $2,721,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Tencent Music Entertainment Group during the 3rd quarter worth $64,000. SBI Securities Co. Ltd. acquired a new stake in Tencent Music Entertainment Group in the fourth quarter valued at $110,000. Oppenheimer Asset Management Inc. purchased a new stake in Tencent Music Entertainment Group during the 4th quarter worth about $114,000. PNC Financial Services Group Inc. boosted its position in shares of Tencent Music Entertainment Group by 10.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company’s stock worth $126,000 after acquiring an additional 1,094 shares in the last quarter. Finally, MML Investors Services LLC purchased a new position in shares of Tencent Music Entertainment Group in the 3rd quarter valued at about $170,000. 24.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TME has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a report on Wednesday, March 26th. Mizuho upped 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. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 18th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Tencent Music Entertainment Group Stock Performance

NYSE TME opened at $14.41 on Tuesday. The firm has a market cap of $24.72 billion, a P/E ratio of 26.68, a P/E/G ratio of 0.77 and a beta of 0.70. Tencent Music Entertainment Group has a 52-week low of $9.41 and a 52-week high of $15.77. The business’s 50-day moving average price is $12.89 and its 200 day moving average price is $12.02. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09.

Tencent Music Entertainment Group Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be given a $0.18 dividend. This represents a yield of 0.9%. This is a positive change from Tencent Music Entertainment Group’s previous annual dividend of $0.12. The ex-dividend date is Thursday, April 3rd. Tencent Music Entertainment Group’s dividend payout ratio (DPR) is 28.81%.

About Tencent Music Entertainment Group

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.