Ilmarinen Mutual Pension Insurance Co Has $38.54 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Ilmarinen Mutual Pension Insurance Co raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 43.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,324 shares of the software maker’s stock after buying an additional 18,500 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in Intuit were worth $38,542,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Norges Bank acquired a new position in shares of Intuit during the fourth quarter valued at about $2,290,419,000. Proficio Capital Partners LLC raised its holdings in Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after acquiring an additional 1,062,847 shares in the last quarter. Wellington Management Group LLP raised its holdings in Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after acquiring an additional 620,559 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Intuit in the 4th quarter worth approximately $300,854,000. Finally, Vanguard Group Inc. grew its holdings in shares of Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock worth $16,991,696,000 after purchasing an additional 353,185 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 1,300 shares of Intuit stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $626.42, for a total value of $814,346.00. Following the completion of the transaction, the chief financial officer now directly owns 644 shares of the company’s stock, valued at approximately $403,414.48. This trade represents a 66.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,862 shares of company stock valued at $18,767,673 in the last three months. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on INTU. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Jefferies Financial Group lowered their price objective on Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a research report on Monday, March 31st. BMO Capital Markets lowered their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Mizuho raised their price objective on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $718.00.

Intuit Stock Down 6.2 %

INTU opened at $561.53 on Friday. The stock has a fifty day moving average of $595.64 and a 200-day moving average of $620.96. The company has a market capitalization of $156.98 billion, a P/E ratio of 54.52, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.74%. Intuit’s payout ratio is presently 38.81%.

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.