Fideuram Asset Management Ireland dac Takes Position in Tencent Music Entertainment Group Sponsored ADR $TME

Fideuram Asset Management Ireland dac acquired a new position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 134,470 shares of the company’s stock, valued at approximately $2,266,000.

Several other large investors have also recently bought and sold shares of TME. Smartleaf Asset Management LLC bought a new position in Tencent Music Entertainment Group in the 3rd quarter valued at $31,000. Allworth Financial LP lifted its holdings in shares of Tencent Music Entertainment Group by 63.2% during the 3rd quarter. Allworth Financial LP now owns 1,480 shares of the company’s stock worth $35,000 after acquiring an additional 573 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Tencent Music Entertainment Group by 137.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,414 shares of the company’s stock worth $57,000 after acquiring an additional 1,397 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Tencent Music Entertainment Group by 83.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,005 shares of the company’s stock worth $59,000 after purchasing an additional 1,363 shares during the period. Finally, Hantz Financial Services Inc. raised its position in Tencent Music Entertainment Group by 69.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 4,087 shares of the company’s stock worth $95,000 after purchasing an additional 1,673 shares during the period. 24.32% of the stock is owned by institutional investors.

Tencent Music Entertainment Group Trading Up 1.6%

Shares of NYSE TME opened at $9.23 on Friday. The firm’s 50 day moving average price is $9.35 and its 200-day moving average price is $14.18. The company has a market cap of $14.30 billion, a PE ratio of 11.54, a P/E/G ratio of 0.59 and a beta of 0.81. Tencent Music Entertainment Group Sponsored ADR has a 52-week low of $8.44 and a 52-week high of $26.70. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.08 and a current ratio of 2.09.

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

Tencent Music Entertainment Group Increases Dividend

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

Wall Street Analysts Forecast Growth

TME has been the topic of a number of analyst reports. Barclays decreased their price objective on shares of Tencent Music Entertainment Group from $28.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. JPMorgan Chase & Co. cut their price objective on shares of Tencent Music Entertainment Group from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Daiwa Securities Group restated a “hold” rating and issued a $12.00 price objective on shares of Tencent Music Entertainment Group in a report on Wednesday, March 18th. Morgan Stanley restated an “equal weight” rating on shares of Tencent Music Entertainment Group in a report on Thursday, March 19th. Finally, Zacks Research upgraded shares of Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 19th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Tencent Music Entertainment Group currently has an average rating of “Hold” and a consensus price target of $21.44.

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.