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

Edmond DE Rothschild Holding S.A. trimmed its position in Tencent Music Entertainment Group (NYSE:TME) by 34.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 239,750 shares of the company’s stock after selling 124,000 shares during the quarter. 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 hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in Tencent Music Entertainment Group in the third quarter valued at approximately $64,000. SBI Securities Co. Ltd. acquired a new position in shares of Tencent Music Entertainment Group in the 4th quarter valued at $110,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Tencent Music Entertainment Group during the 4th quarter worth $114,000. PNC Financial Services Group Inc. increased 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 purchasing an additional 1,094 shares during the last quarter. Finally, MML Investors Services LLC purchased a new stake in Tencent Music Entertainment Group in the 3rd quarter valued at about $170,000. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TME. Mizuho increased their target price on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 19th. Deutsche Bank Aktiengesellschaft upgraded shares of Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a report on Wednesday, March 26th. Finally, Morgan Stanley restated an “overweight” rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 18th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Tencent Music Entertainment Group Price Performance

Tencent Music Entertainment Group stock opened at $14.41 on Tuesday. 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 has a 52-week low of $9.41 and a 52-week high of $15.77. The firm has a market cap of $24.72 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 0.77 and a beta of 0.70. The company’s 50 day moving average is $12.89 and its two-hundred day moving average is $12.02.

Tencent Music Entertainment Group Increases Dividend

The business 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 $0.18 dividend. This is a boost from Tencent Music Entertainment Group’s previous annual dividend of $0.12. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, April 3rd. Tencent Music Entertainment Group’s dividend payout ratio (DPR) 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.