Tencent Music Entertainment Group Sponsored ADR $TME Shares Sold by Axiom Investors LLC DE

Axiom Investors LLC DE lowered its holdings in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 49.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,221,574 shares of the company’s stock after selling 1,199,136 shares during the period. Axiom Investors LLC DE’s holdings in Tencent Music Entertainment Group were worth $21,414,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Tencent Music Entertainment Group by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 21,455,738 shares of the company’s stock valued at $376,119,000 after purchasing an additional 293,385 shares in the last quarter. Krane Funds Advisors LLC grew its holdings in Tencent Music Entertainment Group by 5.4% during the 4th quarter. Krane Funds Advisors LLC now owns 20,047,192 shares of the company’s stock worth $351,427,000 after acquiring an additional 1,026,551 shares in the last quarter. Cantillon Capital Management LLC grew its holdings in Tencent Music Entertainment Group by 1.4% during the 4th quarter. Cantillon Capital Management LLC now owns 18,708,502 shares of the company’s stock worth $327,960,000 after acquiring an additional 256,286 shares in the last quarter. Baillie Gifford & Co. grew its holdings in Tencent Music Entertainment Group by 0.3% during the 4th quarter. Baillie Gifford & Co. now owns 13,042,381 shares of the company’s stock worth $228,633,000 after acquiring an additional 35,182 shares in the last quarter. Finally, State Street Corp grew its holdings in Tencent Music Entertainment Group by 1.3% during the 2nd quarter. State Street Corp now owns 12,553,992 shares of the company’s stock worth $244,677,000 after acquiring an additional 155,692 shares in the last quarter. Institutional investors and hedge funds own 24.32% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on TME shares. Morgan Stanley reiterated an “equal weight” rating on shares of Tencent Music Entertainment Group in a report on Thursday, March 19th. Jefferies Financial Group reiterated a “buy” rating and set a $23.00 price target on shares of Tencent Music Entertainment Group in a report on Tuesday, March 17th. Benchmark reiterated a “hold” rating on shares of Tencent Music Entertainment Group in a report on Wednesday, March 18th. JPMorgan Chase & Co. lowered their price target on shares of Tencent Music Entertainment Group from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Finally, UBS Group reiterated a “neutral” rating and set a $13.00 price target (down from $26.00) on shares of Tencent Music Entertainment Group in a report on Wednesday, March 18th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.44.

Tencent Music Entertainment Group Stock Up 0.2%

Shares of NYSE:TME opened at $9.08 on Wednesday. The company has a market capitalization of $14.30 billion, a PE ratio of 11.36, a P/E/G ratio of 0.59 and a beta of 0.80. The company has a current ratio of 2.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.06. Tencent Music Entertainment Group Sponsored ADR has a twelve month low of $8.44 and a twelve month high of $26.70. The firm has a 50 day simple moving average of $9.27 and a 200-day simple moving average of $13.65.

Tencent Music Entertainment Group (NYSE:TME) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.11 earnings per share for the quarter. The business had revenue of $1.15 billion during the quarter. Tencent Music Entertainment Group had a net margin of 26.45% and a return on equity of 11.20%. On average, equities analysts predict that Tencent Music Entertainment Group Sponsored ADR will post 0.9 EPS for the current fiscal year.

Tencent Music Entertainment Group Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, April 23rd. Stockholders of record on Thursday, April 2nd were given a dividend of $0.24 per share. The ex-dividend date was Thursday, April 2nd. This represents a dividend yield of 262.0%. This is a boost from Tencent Music Entertainment Group’s previous annual dividend of $0.18. Tencent Music Entertainment Group’s payout ratio is presently 28.75%.

Tencent Music Entertainment Group Profile

Tencent Music Entertainment Group (NYSE: TME) is a China-based digital music and audio entertainment platform that operates a portfolio of leading music streaming and social entertainment services. Its core consumer-facing products include streaming apps, online karaoke (KTV) services and live music and entertainment broadcasts. The company monetizes its content through a mix of subscriptions, digital music sales, in-app purchases, virtual gifting, advertising and licensing arrangements with rights holders.

The company traces its roots to the consolidation of Tencent’s music assets and was established in the mid-2010s to unify several prominent music properties under a single operating entity.