OVERSEA CHINESE BANKING Corp Ltd boosted its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 225.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 37,648 shares of the company's stock after acquiring an additional 26,091 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Futu were worth $6,182,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of FUTU. Allianz Asset Management GmbH grew its stake in shares of Futu by 936.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 51,620 shares of the company's stock valued at $8,977,000 after buying an additional 46,639 shares during the period. Veritas Asset Management LLP grew its stake in shares of Futu by 40.9% during the 3rd quarter. Veritas Asset Management LLP now owns 420,857 shares of the company's stock valued at $73,191,000 after buying an additional 122,207 shares during the period. Rakuten Investment Management Inc. purchased a new stake in shares of Futu during the 3rd quarter valued at $19,420,000. Lingohr Asset Management GmbH purchased a new stake in shares of Futu during the 3rd quarter valued at $2,922,000. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in shares of Futu during the 3rd quarter valued at $3,439,000.
Futu Trading Down 1.3%
Shares of Futu stock opened at $162.65 on Wednesday. The company has a fifty day moving average price of $147.99 and a 200 day moving average price of $162.57. Futu Holdings Limited Sponsored ADR has a twelve month low of $81.46 and a twelve month high of $202.53. The stock has a market cap of $22.63 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 0.94 and a beta of 0.42.
Futu (NASDAQ:FUTU - Get Free Report) last announced its quarterly earnings results on Sunday, February 15th. The company reported $3.07 earnings per share for the quarter. Futu had a net margin of 49.63% and a return on equity of 32.24%. The firm had revenue of $771.00 million during the quarter. Analysts forecast that Futu Holdings Limited Sponsored ADR will post 11.95 earnings per share for the current year.
Futu Announces Dividend
The firm also recently declared a special dividend, which will be paid on Wednesday, April 29th. Investors of record on Thursday, April 16th will be given a dividend of $2.60 per share. The ex-dividend date of this dividend is Thursday, April 16th. Futu's dividend payout ratio is 24.81%.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the stock. Barclays lowered their price objective on shares of Futu from $236.00 to $200.00 and set an "overweight" rating for the company in a research note on Monday, March 16th. The Goldman Sachs Group raised shares of Futu from a "neutral" rating to a "buy" rating and set a $213.39 price objective for the company in a research note on Monday, February 2nd. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Futu in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Futu has an average rating of "Buy" and an average target price of $210.57.
Read Our Latest Stock Report on Futu
Futu Profile
(
Free Report)
Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.
The firm's product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.
Further Reading
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