Pictet Asset Management Holding SA Has $20.58 Million Position in Futu Holdings Limited Sponsored ADR $FUTU

Key Points

• Pictet Asset Management boosted its stake in Futu by 44.4% in Q4, holding 125,264 shares valued at $20.58 million at quarter end.
• Futu reported Q4 EPS of $3.07 on revenue of $771 million, has a market cap of about $21.71 billion with a P/E of 15.06, and recently paid a special dividend of $2.60 (DPR 24.81%).
• Analysts are broadly positive with a consensus rating of Buy and an average price target of $210.57, including a Goldman Sachs upgrade to "buy."

Pictet Asset Management Holding SA boosted its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 44.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 125,264 shares of the company's stock after acquiring an additional 38,499 shares during the quarter. Pictet Asset Management Holding SA owned 0.09% of Futu worth $20,581,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FUTU. Geneos Wealth Management Inc. bought a new stake in shares of Futu in the 1st quarter valued at approximately $27,000. TD Private Client Wealth LLC boosted its stake in Futu by 6,075.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 247 shares of the company's stock valued at $43,000 after buying an additional 243 shares in the last quarter. Quarry LP bought a new stake in Futu in the third quarter valued at $51,000. Farther Finance Advisors LLC raised its stake in Futu by 53.2% during the fourth quarter. Farther Finance Advisors LLC now owns 331 shares of the company's stock worth $54,000 after acquiring an additional 115 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Futu during the fourth quarter worth $61,000.

Futu Price Performance

FUTU opened at $154.85 on Friday. The stock has a market capitalization of $21.71 billion, a P/E ratio of 15.06, a price-to-earnings-growth ratio of 0.88 and a beta of 0.52. The company's 50 day simple moving average is $148.93 and its 200-day simple moving average is $162.02. Futu Holdings Limited Sponsored ADR has a one year low of $96.26 and a one year high of $202.53.

Futu (NASDAQ:FUTU - Get Free Report) last posted its quarterly earnings data on Sunday, February 15th. The company reported $3.07 earnings per share for the quarter. The firm had revenue of $771.00 million during the quarter. Futu had a net margin of 49.63% and a return on equity of 32.24%. As a group, analysts anticipate that Futu Holdings Limited Sponsored ADR will post 11.95 EPS for the current year.

Futu Announces Dividend

The company also recently declared a special dividend, which was paid on Wednesday, April 29th. Investors of record on Thursday, April 16th were issued a $2.60 dividend. The ex-dividend date was Thursday, April 16th. Futu's dividend payout ratio (DPR) is currently 24.81%.

Analyst Ratings Changes

Several equities research analysts have recently commented on FUTU shares. The Goldman Sachs Group raised shares of Futu from a "neutral" rating to a "buy" rating and set a $213.39 target price on the stock in a report on Monday, February 2nd. Weiss Ratings restated a "hold (c+)" rating on shares of Futu in a research report on Thursday, January 22nd. Finally, Barclays decreased their price objective on shares of Futu from $236.00 to $200.00 and set an "overweight" rating on the stock in a research note on Monday, March 16th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $210.57.

About Futu

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.

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