Raiffeisen Bank International AG Invests $13.90 Million in Tencent Holding Ltd. $TCEHY

Raiffeisen Bank International AG bought a new stake in shares of Tencent Holding Ltd. (OTCMKTS:TCEHY) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 259,080 shares of the technology company’s stock, valued at approximately $13,897,000.

Tencent Stock Down 0.4%

TCEHY opened at $55.85 on Friday. The firm has a market cap of $508.41 billion, a price-to-earnings ratio of 15.30 and a beta of 0.26. The firm’s 50-day simple moving average is $58.03 and its 200-day simple moving average is $60.63. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.42 and a current ratio of 1.43. Tencent Holding Ltd. has a twelve month low of $52.84 and a twelve month high of $87.68.

Analysts Set New Price Targets

TCEHY has been the topic of a number of recent research reports. Barclays reaffirmed an “overweight” rating and set a $106.00 price objective on shares of Tencent in a report on Thursday, May 14th. Zacks Research cut Tencent from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 26th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $106.00.

Tencent Company Profile

Tencent Holdings Limited is a Chinese multinational technology conglomerate headquartered in Shenzhen, Guangdong. Founded in 1998, the company grew from early instant-messaging products into a diversified internet services group and is listed on the Hong Kong Stock Exchange. Tencent’s businesses span consumer-facing applications, digital content, cloud services and financial technology, supported by a broad investment program in global technology and gaming companies.

At the consumer level Tencent operates major social and communication platforms such as QQ and WeChat (Weixin), which combine messaging, social networking, mobile payments and a wide range of mini-programs and services.