Intuit Inc. (NASDAQ:INTU) Shares Purchased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. raised its stake in Intuit Inc. (NASDAQ:INTU) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,497 shares of the software maker’s stock after acquiring an additional 263 shares during the period. Asset Management One Co. Ltd.’s holdings in Intuit were worth $71,837,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in INTU. International Assets Investment Management LLC grew its stake in Intuit by 68,404.7% during the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after buying an additional 483,621 shares during the last quarter. Holocene Advisors LP boosted its holdings in shares of Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after acquiring an additional 312,212 shares during the period. Nordea Investment Management AB increased its holdings in shares of Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares during the period. State Street Corp lifted its position in Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after purchasing an additional 221,885 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in Intuit during the 4th quarter valued at about $104,278,000. 83.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on INTU. Scotiabank started coverage on shares of Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target on the stock. Morgan Stanley lifted their target price on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Jefferies Financial Group raised their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Stifel Nicolaus reduced their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. One research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the transaction, the insider now owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark P. Notarainni sold 3,649 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the sale, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $12,286.92. This represents a 99.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock valued at $188,992,187 in the last three months. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Up 1.3 %

Shares of Intuit stock opened at $583.90 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The firm has a market capitalization of $163.45 billion, a PE ratio of 56.69, a price-to-earnings-growth ratio of 2.91 and a beta of 1.24. The stock’s fifty day moving average is $622.69 and its 200-day moving average is $630.67.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates 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 firm earned $1.14 earnings per share. Equities analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.71%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

About Intuit

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.