Ballentine Partners LLC Has $244,000 Stock Position in Tencent Music Entertainment Group (NYSE:TME)

Ballentine Partners LLC grew its stake in Tencent Music Entertainment Group (NYSE:TME) by 44.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,816 shares of the company’s stock after purchasing an additional 6,684 shares during the quarter. Ballentine Partners LLC’s holdings in Tencent Music Entertainment Group were worth $244,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Tobam acquired a new stake in Tencent Music Entertainment Group during the 4th quarter worth $36,000. Headinvest LLC acquired a new stake in Tencent Music Entertainment Group during the 3rd quarter worth $39,000. Lindbrook Capital LLC raised its stake in Tencent Music Entertainment Group by 40.9% during the 4th quarter. Lindbrook Capital LLC now owns 7,036 shares of the company’s stock worth $63,000 after buying an additional 2,044 shares during the period. QRG Capital Management Inc. acquired a new stake in Tencent Music Entertainment Group during the 3rd quarter worth $75,000. Finally, SageView Advisory Group LLC acquired a new stake in Tencent Music Entertainment Group during the 4th quarter worth $90,000. Institutional investors and hedge funds own 24.32% of the company’s stock.

Tencent Music Entertainment Group Price Performance

Shares of NYSE TME opened at $14.32 on Thursday. The stock has a market capitalization of $24.57 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 1.07 and a beta of 0.72. The business has a 50-day moving average of $13.90 and a 200-day moving average of $11.28. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.67 and a quick ratio of 2.67. Tencent Music Entertainment Group has a fifty-two week low of $5.70 and a fifty-two week high of $15.77.

Tencent Music Entertainment Group (NYSE:TME) last announced its quarterly earnings data on Monday, May 13th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. Tencent Music Entertainment Group had a return on equity of 9.85% and a net margin of 18.88%. The company had revenue of $937.00 million during the quarter, compared to analysts’ expectations of $904.29 million. As a group, sell-side analysts predict that Tencent Music Entertainment Group will post 0.62 earnings per share for the current fiscal year.

Tencent Music Entertainment Group Announces Dividend

The firm also recently declared an annual dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, May 31st will be issued a dividend of $0.121 per share. This represents a yield of 0.78%. The ex-dividend date of this dividend is Friday, May 31st. Tencent Music Entertainment Group’s payout ratio is currently 28.26%.

Analysts Set New Price Targets

Several brokerages recently commented on TME. Mizuho raised their price objective on Tencent Music Entertainment Group from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Morgan Stanley lifted their price target on Tencent Music Entertainment Group from $11.00 to $13.50 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. HSBC lifted their price target on Tencent Music Entertainment Group from $9.50 to $10.40 and gave the company a “hold” rating in a research note on Wednesday, March 20th. Bank of America lifted their price target on Tencent Music Entertainment Group from $10.50 to $12.30 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, The Goldman Sachs Group raised Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Tencent Music Entertainment Group presently has an average rating of “Moderate Buy” and a consensus target price of $12.75.

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.