Tencent Music Entertainment Group Sponsored ADR $TME Shares Bought by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. grew its stake in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 7.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,863,263 shares of the company’s stock after purchasing an additional 537,047 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Tencent Music Entertainment Group were worth $137,843,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Tencent Music Entertainment Group by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 21,455,738 shares of the company’s stock worth $376,119,000 after acquiring an additional 293,385 shares during the last quarter. Krane Funds Advisors LLC increased its position in shares of Tencent Music Entertainment Group by 25.4% during the third quarter. Krane Funds Advisors LLC now owns 19,020,641 shares of the company’s stock worth $421,593,000 after acquiring an additional 3,856,410 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Tencent Music Entertainment Group by 0.3% during the fourth 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 during the last quarter. State Street Corp increased its position in shares of Tencent Music Entertainment Group by 1.3% during the second 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 during the last quarter. Finally, Green Court Capital Management Ltd increased its position in shares of Tencent Music Entertainment Group by 467.2% during the fourth quarter. Green Court Capital Management Ltd now owns 5,893,162 shares of the company’s stock worth $108,729,000 after acquiring an additional 4,854,084 shares during the last quarter. 24.32% of the stock is owned by hedge funds and other institutional investors.

Tencent Music Entertainment Group Stock Up 0.1%

Shares of Tencent Music Entertainment Group stock opened at $9.09 on Tuesday. The company has a quick ratio of 2.08, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The firm has a market cap of $14.30 billion, a P/E ratio of 11.36, a P/E/G ratio of 0.59 and a beta of 0.80. Tencent Music Entertainment Group Sponsored ADR has a fifty-two week low of $8.44 and a fifty-two week high of $26.70. The business has a 50-day moving average price of $9.28 and a 200 day moving average price of $13.71.

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

Tencent Music Entertainment Group Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Morgan Stanley reaffirmed an “equal weight” rating on shares of Tencent Music Entertainment Group in a research report on Thursday, March 19th. JPMorgan Chase & Co. dropped their target price on Tencent Music Entertainment Group from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Zacks Research raised Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 19th. Barclays dropped their target price on 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. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $23.00 target price on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 17th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Tencent Music Entertainment Group presently has a consensus rating of “Hold” and an average price target of $21.44.

Tencent Music Entertainment Group Company 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.