BOCHK Asset Management Ltd Buys 600 Shares of Futu Holdings Limited (NASDAQ:FUTU)

BOCHK Asset Management Ltd boosted its stake in Futu Holdings Limited (NASDAQ:FUTU) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,000 shares of the company’s stock after purchasing an additional 600 shares during the period. Futu comprises about 0.2% of BOCHK Asset Management Ltd’s holdings, making the stock its 28th largest holding. BOCHK Asset Management Ltd’s holdings in Futu were worth $640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sei Investments Co. raised its stake in shares of Futu by 261.3% during the second quarter. Sei Investments Co. now owns 25,351 shares of the company’s stock valued at $1,663,000 after acquiring an additional 18,334 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Futu during the second quarter valued at $3,236,000. Toronto Dominion Bank raised its stake in shares of Futu by 42.0% during the second quarter. Toronto Dominion Bank now owns 7,095 shares of the company’s stock valued at $465,000 after acquiring an additional 2,100 shares during the last quarter. APG Asset Management N.V. bought a new position in shares of Futu during the second quarter valued at $496,000. Finally, MBB Public Markets I LLC bought a new position in shares of Futu during the second quarter valued at $276,000.

Futu Stock Up 6.2 %

FUTU opened at $99.69 on Wednesday. The stock has a market cap of $13.74 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 0.71 and a beta of 0.75. The company has a fifty day moving average of $85.00 and a 200-day moving average of $80.09. Futu Holdings Limited has a twelve month low of $45.15 and a twelve month high of $130.50.

Futu Announces Dividend

The business also recently declared a — dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 6th were issued a $2.00 dividend. The ex-dividend date of this dividend was Friday, December 6th.

Wall Street Analysts Forecast Growth

FUTU has been the subject of several recent analyst reports. Citigroup cut shares of Futu from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $79.00 to $95.00 in a research report on Tuesday, November 19th. Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $70.00 to $115.00 in a research report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.40.

About Futu

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.