Tencent Music Entertainment Group Sponsored ADR $TME Position Raised by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its position in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 27.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,773 shares of the company’s stock after purchasing an additional 4,499 shares during the period. Sequoia Financial Advisors LLC’s holdings in Tencent Music Entertainment Group were worth $405,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Tencent Music Entertainment Group by 29.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 44,096 shares of the company’s stock valued at $859,000 after buying an additional 10,083 shares in the last quarter. Aberdeen Group plc increased its holdings in shares of Tencent Music Entertainment Group by 26.9% in the second quarter. Aberdeen Group plc now owns 227,607 shares of the company’s stock valued at $4,436,000 after buying an additional 48,271 shares in the last quarter. PDS Planning Inc increased its holdings in shares of Tencent Music Entertainment Group by 5.6% in the second quarter. PDS Planning Inc now owns 12,561 shares of the company’s stock valued at $245,000 after buying an additional 665 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Tencent Music Entertainment Group by 10.6% in the second quarter. Vontobel Holding Ltd. now owns 40,300 shares of the company’s stock valued at $785,000 after buying an additional 3,859 shares in the last quarter. Finally, Belpointe Asset Management LLC grew its position in Tencent Music Entertainment Group by 4.4% during the 2nd quarter. Belpointe Asset Management LLC now owns 46,925 shares of the company’s stock worth $915,000 after purchasing an additional 1,958 shares in the last quarter. Institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Trading Up 0.1%

Shares of NYSE:TME opened at $22.76 on Wednesday. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.04. Tencent Music Entertainment Group Sponsored ADR has a 1 year low of $10.11 and a 1 year high of $26.70. The firm has a fifty day moving average price of $24.32 and a 200 day moving average price of $19.88. The stock has a market capitalization of $39.05 billion, a PE ratio of 25.01 and a beta of 0.51.

Analysts Set New Price Targets

Several equities analysts have weighed in on TME shares. Benchmark lifted their price objective on shares of Tencent Music Entertainment Group from $19.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Tencent Music Entertainment Group in a research report on Wednesday, October 8th. Zacks Research cut shares of Tencent Music Entertainment Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Barclays reiterated an “overweight” rating and set a $27.00 price objective (up from $16.00) on shares of Tencent Music Entertainment Group in a research report on Tuesday, August 12th. Finally, Daiwa Capital Markets upgraded shares of Tencent Music Entertainment Group from a “neutral” rating to an “outperform” rating in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $24.47.

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.