Charles Schwab Investment Management Inc. Acquires 9,221 Shares of Futu Holdings Limited (NASDAQ:FUTU)

Charles Schwab Investment Management Inc. increased its position in Futu Holdings Limited (NASDAQ:FUTU - Free Report) by 19.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,669 shares of the company's stock after buying an additional 9,221 shares during the quarter. Charles Schwab Investment Management Inc.'s holdings in Futu were worth $5,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of Futu by 181.5% in the 3rd quarter. GAMMA Investing LLC now owns 594 shares of the company's stock valued at $57,000 after buying an additional 383 shares during the last quarter. CWM LLC boosted its stake in shares of Futu by 67.7% in the 3rd quarter. CWM LLC now owns 743 shares of the company's stock valued at $71,000 after purchasing an additional 300 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Futu during the second quarter worth $50,000. Venturi Wealth Management LLC acquired a new position in Futu in the third quarter valued at $92,000. Finally, SG Americas Securities LLC bought a new position in shares of Futu in the 2nd quarter worth about $123,000.

Futu Stock Performance

NASDAQ:FUTU traded up $0.54 on Friday, hitting $85.78. The stock had a trading volume of 1,912,227 shares, compared to its average volume of 2,373,215. Futu Holdings Limited has a 1 year low of $43.61 and a 1 year high of $130.50. The firm's fifty day simple moving average is $94.48 and its two-hundred day simple moving average is $76.85. The stock has a market cap of $11.82 billion, a P/E ratio of 21.20, a price-to-earnings-growth ratio of 0.88 and a beta of 0.72.

Futu Dividend Announcement

The company also recently announced a -- dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 6th will be given a $2.00 dividend. The ex-dividend date of this dividend is Friday, December 6th.

Analyst Ratings Changes

FUTU has been the subject of several recent analyst reports. Morgan Stanley raised Futu from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $70.00 to $115.00 in a research note on Monday, November 18th. Bank of America upped their price target on Futu from $80.20 to $90.00 and gave the stock a "buy" rating in a research note on Friday, September 27th. Finally, Citigroup cut Futu from a "buy" rating to a "neutral" rating and raised their price objective for the company from $79.00 to $95.00 in a research note on Tuesday, November 19th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $87.33.

Futu Profile

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.