LPL Financial LLC Acquires 19,928 Shares of Tencent Music Entertainment Group (NYSE:TME)

LPL Financial LLC boosted its holdings in Tencent Music Entertainment Group (NYSE:TME) by 40.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,539 shares of the company’s stock after purchasing an additional 19,928 shares during the period. LPL Financial LLC’s holdings in Tencent Music Entertainment Group were worth $789,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS acquired a new stake in shares of Tencent Music Entertainment Group in the fourth quarter valued at about $1,853,000. Sei Investments Co. raised its stake in shares of Tencent Music Entertainment Group by 33.1% during the 4th quarter. Sei Investments Co. now owns 3,355,701 shares of the company’s stock worth $38,087,000 after purchasing an additional 833,854 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Tencent Music Entertainment Group by 6.2% in the 4th quarter. American Century Companies Inc. now owns 749,447 shares of the company’s stock valued at $8,506,000 after buying an additional 43,859 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Tencent Music Entertainment Group in the fourth quarter valued at $177,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Tencent Music Entertainment Group by 3.1% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 901,402 shares of the company’s stock worth $10,231,000 after buying an additional 27,500 shares during the last quarter. 24.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TME shares. Morgan Stanley reiterated an “overweight” rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 18th. Nomura Securities upgraded Tencent Music Entertainment Group to a “strong-buy” rating in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft upgraded Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a research note on Wednesday, March 26th. Finally, Mizuho upped their price objective on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Tencent Music Entertainment Group Price Performance

Shares of NYSE TME opened at $11.99 on Tuesday. The stock has a market capitalization of $20.58 billion, a PE ratio of 22.20, a P/E/G ratio of 0.77 and a beta of 0.50. Tencent Music Entertainment Group has a fifty-two week low of $9.41 and a fifty-two week high of $15.77. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34. The business has a fifty day moving average price of $13.19 and a two-hundred day moving average price of $12.19.

Tencent Music Entertainment Group Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be given a dividend of $0.18 per share. This is a boost from Tencent Music Entertainment Group’s previous annual dividend of $0.12. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a yield of 0.9%. Tencent Music Entertainment Group’s dividend payout ratio is currently 28.81%.

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.