Factory Mutual Insurance Co. Makes New $33.25 Million Investment in Intuit Inc. (NASDAQ:INTU)

Factory Mutual Insurance Co. bought a new position in Intuit Inc. (NASDAQ:INTU) in the fourth quarter, Holdings Channel.com reports. The fund bought 52,900 shares of the software maker’s stock, valued at approximately $33,248,000.

A number of other institutional investors have also recently added to or reduced their stakes in INTU. R Squared Ltd acquired a new stake in Intuit in the fourth quarter worth approximately $25,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit during the 3rd quarter valued at $27,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the 4th quarter valued at $28,000. Sugar Maple Asset Management LLC acquired a new stake in shares of Intuit during the 4th quarter valued at $29,000. Finally, Denver PWM LLC acquired a new stake in shares of Intuit during the 3rd quarter valued at $32,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Trading Down 0.5 %

NASDAQ INTU opened at $601.51 on Friday. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $168.37 billion, a PE ratio of 58.40, a price-to-earnings-growth ratio of 2.92 and a beta of 1.25. The firm’s fifty day simple moving average is $631.72 and its 200-day simple moving average is $634.06.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 earnings per share. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s payout ratio is 40.39%.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the sale, the executive vice president now directly owns 30,010 shares in the company, valued at $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares of the company’s stock, valued at $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock valued at $188,992,187 over the last three months. 2.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Piper Sandler reiterated an “overweight” rating and set a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Jefferies Financial Group increased their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Stifel Nicolaus reduced their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, Scotiabank started coverage on Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $726.53.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.