Asset Management One Co. Ltd. Buys 7,860 Shares of Intuit Inc. (NASDAQ:INTU)

Asset Management One Co. Ltd. raised its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 7.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 120,357 shares of the software maker's stock after buying an additional 7,860 shares during the period. Asset Management One Co. Ltd.'s holdings in Intuit were worth $73,898,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Copia Wealth Management acquired a new stake in shares of Intuit during the 4th quarter worth approximately $25,000. NewSquare Capital LLC boosted its stake in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after acquiring an additional 18 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Intuit during the 4th quarter worth $28,000. Heck Capital Advisors LLC bought a new stake in shares of Intuit during the 4th quarter valued at $28,000. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Intuit in the 4th quarter valued at $35,000. 83.66% of the stock is owned by institutional investors.

Intuit Trading Down 0.5%

NASDAQ:INTU traded down $3.52 during mid-day trading on Tuesday, hitting $759.03. 1,900,307 shares of the company's stock were exchanged, compared to its average volume of 1,839,162. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $773.45. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $211.73 billion, a P/E ratio of 61.61, a PEG ratio of 3.39 and a beta of 1.28. The company has a 50 day simple moving average of $686.27 and a 200-day simple moving average of $635.14.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the previous year, the firm posted $9.88 earnings per share. Intuit's revenue for the quarter was up 15.1% on a year-over-year basis. As a group, research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.55%. Intuit's payout ratio is 33.77%.

Insider Activity

In related news, insider Scott D. Cook sold 72,442 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the transaction, the insider now directly owns 6,063,495 shares of the company's stock, valued at $4,494,808,208.55. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 1,459 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $770.80, for a total transaction of $1,124,597.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 271,158 shares of company stock valued at $202,989,194. 2.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on INTU. Hsbc Global Res upgraded Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Piper Sandler reiterated an "overweight" rating and set a $825.00 target price (up from $785.00) on shares of Intuit in a report on Friday, May 23rd. Susquehanna reissued a "positive" rating on shares of Intuit in a research note on Friday, May 23rd. Finally, Bank of America raised their price target on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $787.95.

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.