Tencent Music Entertainment Group Sponsored ADR $TME Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC decreased its stake in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,592,177 shares of the company’s stock after selling 185,808 shares during the period. William Blair Investment Management LLC owned approximately 0.21% of Tencent Music Entertainment Group worth $62,965,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Allworth Financial LP increased its stake in 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 buying an additional 573 shares during the period. Smartleaf Asset Management LLC acquired a new position in Tencent Music Entertainment Group during the 3rd quarter valued at about $31,000. Mariner LLC grew its stake in shares of Tencent Music Entertainment Group by 2.1% in the 3rd quarter. Mariner LLC now owns 64,795 shares of the company’s stock worth $1,512,000 after purchasing an additional 1,340 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Tencent Music Entertainment Group by 83.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,005 shares of the company’s stock worth $59,000 after purchasing an additional 1,363 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in shares of Tencent Music Entertainment Group by 137.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,414 shares of the company’s stock worth $57,000 after purchasing an additional 1,397 shares during the last quarter. Institutional investors and hedge funds own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Performance

Tencent Music Entertainment Group stock opened at $8.83 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.08. The company has a market cap of $13.67 billion, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 0.57 and a beta of 0.81. The firm’s 50 day simple moving average is $9.73 and its 200-day simple moving average is $14.59. Tencent Music Entertainment Group Sponsored ADR has a fifty-two week low of $8.44 and a fifty-two week high of $26.70.

Tencent Music Entertainment Group (NYSE:TME) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.11 EPS for the quarter. The business had revenue of $1.15 billion during the quarter. Tencent Music Entertainment Group had a net margin of 26.45% and a return on equity of 11.20%. As a group, equities research analysts predict that Tencent Music Entertainment Group Sponsored ADR will post 0.9 EPS for the current year.

Tencent Music Entertainment Group Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered 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 note on Thursday, May 14th. Benchmark reaffirmed a “hold” rating on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. Daiwa Securities Group reaffirmed a “hold” rating and issued a $12.00 price objective on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. Zacks Research raised shares of Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 19th. Finally, Mizuho lowered their price objective on shares of Tencent Music Entertainment Group from $23.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $21.44.

About Tencent Music Entertainment Group

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.