134,470 Shares in Tencent Music Entertainment Group Sponsored ADR $TME Acquired by Fideuram Asset Management Ireland dac

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

Several other institutional investors have also added to or reduced their stakes in the business. Allworth Financial LP raised its position 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 valued at $35,000 after purchasing an additional 573 shares during the period. Smartleaf Asset Management LLC bought a new stake in shares of Tencent Music Entertainment Group during the 3rd quarter valued at $31,000. Mariner LLC raised its position in shares of Tencent Music Entertainment Group by 2.1% during the 3rd quarter. Mariner LLC now owns 64,795 shares of the company’s stock valued at $1,512,000 after purchasing an additional 1,340 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Tencent Music Entertainment Group by 83.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,005 shares of the company’s stock valued at $59,000 after purchasing an additional 1,363 shares during the period. Finally, Jones Financial Companies Lllp raised its position 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 valued at $57,000 after purchasing an additional 1,397 shares during the period. 24.32% of the stock is currently owned by institutional investors.

Tencent Music Entertainment Group Stock Performance

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

Tencent Music Entertainment Group (NYSE:TME) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter. The company 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%. As a group, analysts anticipate 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 declared an annual dividend, which was paid on Thursday, April 23rd. Shareholders of record on Thursday, April 2nd were issued a $0.24 dividend. The ex-dividend date was Thursday, April 2nd. This represents a yield of 262.0%. This is an increase from Tencent Music Entertainment Group’s previous annual dividend of $0.18. Tencent Music Entertainment Group’s payout ratio is presently 28.75%.

Wall Street Analyst Weigh In

Several analysts have recently commented on TME shares. Morgan Stanley restated an “equal weight” rating on shares of Tencent Music Entertainment Group in a research report on Thursday, March 19th. Benchmark restated a “hold” rating on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Zacks Research upgraded shares of Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 19th. JPMorgan Chase & Co. decreased 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 research report on Thursday, May 14th. Finally, UBS Group restated a “neutral” rating and set a $13.00 price objective (down from $26.00) on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.