Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Free Report) by 16.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 296,240 shares of the company's stock after selling 58,160 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.21% of Futu worth $48,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new stake in Futu during the first quarter valued at approximately $27,000. Cooper Investors PTY Ltd. purchased a new stake in Futu during the third quarter valued at approximately $29,000. TD Private Client Wealth LLC raised its position in Futu by 6,075.0% during the third quarter. TD Private Client Wealth LLC now owns 247 shares of the company's stock valued at $43,000 after purchasing an additional 243 shares during the period. Quarry LP purchased a new stake in Futu during the third quarter valued at approximately $51,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Futu during the fourth quarter valued at approximately $61,000.
Wall Street Analysts Forecast Growth
FUTU has been the topic of a number of recent research reports. The Goldman Sachs Group upgraded Futu from a "neutral" rating to a "buy" rating and set a $213.39 price objective on the stock in a research report on Monday, February 2nd. Barclays reduced their price target on Futu from $236.00 to $200.00 and set an "overweight" rating on the stock in a report on Monday, March 16th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Futu in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $210.57.
Read Our Latest Research Report on Futu
Futu Trading Up 1.8%
Shares of NASDAQ FUTU opened at $164.72 on Thursday. The stock has a market capitalization of $22.92 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 0.93 and a beta of 0.42. The stock's fifty day simple moving average is $147.12 and its two-hundred day simple moving average is $162.84. Futu Holdings Limited Sponsored ADR has a 12-month low of $77.65 and a 12-month high of $202.53.
Futu (NASDAQ:FUTU - Get Free Report) last announced its earnings results on Sunday, February 15th. The company reported $3.07 earnings per share (EPS) for the quarter. The business had revenue of $771.00 million for the quarter. Futu had a return on equity of 32.24% and a net margin of 49.63%. On average, equities analysts predict that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current fiscal year.
Futu Dividend Announcement
The company also recently declared a special dividend, which will be paid on Wednesday, April 29th. Shareholders 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 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.
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