Krane Funds Advisors LLC Takes $286,000 Position in Intuit Inc. (NASDAQ:INTU)

Krane Funds Advisors LLC bought a new position in shares of Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 455 shares of the software maker’s stock, valued at approximately $286,000.

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

Intuit Stock Performance

Shares of INTU stock opened at $561.53 on Monday. The business has a 50 day simple moving average of $595.64 and a 200 day simple moving average of $620.70. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $156.98 billion, a price-to-earnings ratio of 54.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. Intuit Inc. has a 12-month low of $533.55 and a 12-month high of $714.78.

Intuit Announces Dividend

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

Insider Buying and Selling at Intuit

In related news, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now directly owns 8 shares in the company, valued at $4,800. The trade was a 99.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Aujla sold 1,300 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were 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 in the company, valued at $403,414.48. This represents a 66.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,862 shares of company stock valued at $18,767,673. Company insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and upped their target price for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Mizuho increased their target price on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a report on Wednesday, January 15th. Finally, Redburn Atlantic assumed coverage on shares of Intuit in a report on Wednesday, February 19th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $718.00.

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.