iA Global Asset Management Inc. Reduces Holdings in Futu Holdings Limited Sponsored ADR $FUTU

iA Global Asset Management Inc. decreased its position in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 63.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,748 shares of the company’s stock after selling 13,177 shares during the period. iA Global Asset Management Inc.’s holdings in Futu were worth $1,272,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. CoreCap Advisors LLC boosted its position in shares of Futu by 2.8% during the 4th quarter. CoreCap Advisors LLC now owns 2,455 shares of the company’s stock worth $403,000 after purchasing an additional 68 shares during the period. Diversify Wealth Management LLC boosted its position in shares of Futu by 0.9% during the 3rd quarter. Diversify Wealth Management LLC now owns 8,962 shares of the company’s stock worth $1,559,000 after purchasing an additional 83 shares during the period. Personal CFO Solutions LLC boosted its position in shares of Futu by 5.1% during the 4th quarter. Personal CFO Solutions LLC now owns 1,713 shares of the company’s stock worth $281,000 after purchasing an additional 83 shares during the period. Spire Wealth Management boosted its position in shares of Futu by 15.4% during the 4th quarter. Spire Wealth Management now owns 750 shares of the company’s stock worth $123,000 after purchasing an additional 100 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in shares of Futu by 53.2% during the 4th quarter. Farther Finance Advisors LLC now owns 331 shares of the company’s stock worth $54,000 after purchasing an additional 115 shares during the period.

Futu Stock Down 2.2%

Shares of FUTU stock opened at $131.70 on Tuesday. Futu Holdings Limited Sponsored ADR has a 52 week low of $100.50 and a 52 week high of $202.53. The stock has a market capitalization of $18.46 billion, a PE ratio of 12.81, a P/E/G ratio of 0.94 and a beta of 0.52. The firm has a 50 day moving average of $148.07 and a two-hundred day moving average of $160.25.

Futu (NASDAQ:FUTU) last issued its quarterly earnings results on Sunday, February 15th. The company reported $3.07 EPS for the quarter. Futu had a net margin of 49.63% and a return on equity of 32.24%. The company had revenue of $771.00 million during the quarter. Analysts expect that Futu Holdings Limited Sponsored ADR will post 11.78 EPS for the current fiscal year.

Futu Announces Dividend

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

Analysts Set New Price Targets

FUTU has been the subject of a number of research analyst reports. Zacks Research cut shares of Futu from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 8th. The Goldman Sachs Group set a $205.00 price objective on shares of Futu in a research report on Monday, May 4th. 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 report on Monday, March 16th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $209.17.

Futu Profile

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.