Vise Technologies Inc. Invests $169,000 in Tencent Music Entertainment Group (NYSE:TME)

Vise Technologies Inc. purchased a new position in shares of Tencent Music Entertainment Group (NYSE:TME - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 14,858 shares of the company's stock, valued at approximately $169,000.

Other large investors have also made changes to their positions in the company. Vident Advisory LLC increased its holdings in shares of Tencent Music Entertainment Group by 23.0% during the fourth quarter. Vident Advisory LLC now owns 18,889 shares of the company's stock valued at $214,000 after acquiring an additional 3,538 shares in the last quarter. Toronto Dominion Bank purchased a new stake in shares of Tencent Music Entertainment Group during the fourth quarter valued at $286,000. Quantinno Capital Management LP raised its stake in shares of Tencent Music Entertainment Group by 31.9% in the fourth quarter. Quantinno Capital Management LP now owns 29,113 shares of the company's stock worth $330,000 after purchasing an additional 7,033 shares during the last quarter. Ethic Inc. purchased a new position in shares of Tencent Music Entertainment Group during the fourth quarter worth $192,000. Finally, FACT Capital LP lifted its position in Tencent Music Entertainment Group by 3.2% during the fourth quarter. FACT Capital LP now owns 547,482 shares of the company's stock valued at $6,214,000 after purchasing an additional 17,017 shares during the period. 24.32% of the stock is owned by institutional investors and hedge funds.

Tencent Music Entertainment Group Price Performance

Shares of NYSE:TME traded up $0.02 during midday trading on Tuesday, hitting $17.38. The company had a trading volume of 3,607,624 shares, compared to its average volume of 8,207,816. The business's 50-day simple moving average is $14.49 and its 200-day simple moving average is $12.98. The stock has a market cap of $29.82 billion, a price-to-earnings ratio of 32.18, a price-to-earnings-growth ratio of 0.77 and a beta of 0.46. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34. Tencent Music Entertainment Group has a twelve month low of $9.41 and a twelve month high of $18.06.

Tencent Music Entertainment Group Increases Dividend

The business also recently announced an annual dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This is an increase from Tencent Music Entertainment Group's previous annual dividend of $0.12. This represents a dividend yield of 0.9%. Tencent Music Entertainment Group's dividend payout ratio (DPR) is 20.24%.

Analyst Ratings Changes

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

Tencent Music Entertainment Group 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.