Vise Technologies Inc. Takes Position in Tencent Music Entertainment Group (NYSE:TME)

Vise Technologies Inc. acquired a new stake in shares of Tencent Music Entertainment Group (NYSE:TME - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 14,858 shares of the company's stock, valued at approximately $169,000.

A number of other institutional investors have also recently bought and sold shares of the company. Barclays PLC lifted its holdings in Tencent Music Entertainment Group by 5.8% in the 3rd quarter. Barclays PLC now owns 762,650 shares of the company's stock worth $9,189,000 after purchasing an additional 41,990 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Tencent Music Entertainment Group by 0.5% during the 4th quarter. Jennison Associates LLC now owns 2,833,838 shares of the company's stock worth $32,164,000 after purchasing an additional 14,971 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Tencent Music Entertainment Group by 0.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,767,319 shares of the company's stock valued at $20,059,000 after buying an additional 4,837 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Tencent Music Entertainment Group by 3.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,636 shares of the company's stock valued at $586,000 after acquiring an additional 1,923 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Tencent Music Entertainment Group by 8.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 6,496,359 shares of the company's stock valued at $73,539,000 after purchasing an additional 522,599 shares during the period. Institutional investors and hedge funds own 24.32% of the company's stock.

Tencent Music Entertainment Group Stock Down 3.8%

Shares of TME traded down $0.66 during midday trading on Friday, hitting $16.83. The stock had a trading volume of 14,014,768 shares, compared to its average volume of 8,234,274. 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 firm has a market cap of $28.88 billion, a price-to-earnings ratio of 31.17, a price-to-earnings-growth ratio of 0.77 and a beta of 0.46. Tencent Music Entertainment Group has a twelve month low of $9.41 and a twelve month high of $18.06. The company has a 50 day simple moving average of $14.37 and a two-hundred day simple moving average of $12.87.

Tencent Music Entertainment Group Increases Dividend

The firm also recently declared an annual dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd were given a dividend of $0.18 per share. The ex-dividend date was Thursday, April 3rd. This is a boost from Tencent Music Entertainment Group's previous annual dividend of $0.12. This represents a yield of 0.9%. Tencent Music Entertainment Group's payout ratio is 20.24%.

Analysts Set New Price Targets

A number of research firms have recently commented on TME. Mizuho raised their price objective on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an "outperform" rating in a report on Wednesday, March 19th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Tencent Music Entertainment Group in a research report on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft raised Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a research note on Wednesday, March 26th. Nomura Securities upgraded shares of Tencent Music Entertainment Group to a "strong-buy" rating in a report on Tuesday, April 8th. Finally, Morgan Stanley restated an "overweight" rating on shares of Tencent Music Entertainment Group in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tencent Music Entertainment Group presently has an average rating of "Moderate Buy" and an average target price of $15.00.

About Tencent Music Entertainment Group

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.