Tencent Music Entertainment Group (NYSE:TME) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its holdings in Tencent Music Entertainment Group (NYSE:TME) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 795,398 shares of the company’s stock after purchasing an additional 5,233 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Tencent Music Entertainment Group were worth $9,028,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in Tencent Music Entertainment Group in the third quarter valued at $64,000. SBI Securities Co. Ltd. acquired a new position in Tencent Music Entertainment Group in the 4th quarter valued at about $110,000. Oppenheimer Asset Management Inc. purchased a new stake in Tencent Music Entertainment Group during the 4th quarter valued at approximately $114,000. PNC Financial Services Group Inc. lifted its position in 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 during the period. Finally, MML Investors Services LLC purchased a new position in Tencent Music Entertainment Group in the 3rd quarter valued at $170,000. Institutional investors and hedge funds own 24.32% of the company’s stock.

Tencent Music Entertainment Group Trading Up 0.1 %

NYSE:TME opened at $14.47 on Thursday. Tencent Music Entertainment Group has a 52-week low of $9.41 and a 52-week high of $15.77. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $13.02 and a 200-day simple moving average of $12.07. The company has a market capitalization of $24.83 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 0.77 and a beta of 0.70.

Tencent Music Entertainment Group Increases Dividend

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

Wall Street Analysts Forecast Growth

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

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.