Global X Japan Co. Ltd. Has $23.96 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Global X Japan Co. Ltd. raised its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 11.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,028 shares of the software maker's stock after purchasing an additional 4,083 shares during the period. Intuit accounts for approximately 2.8% of Global X Japan Co. Ltd.'s holdings, making the stock its 15th biggest holding. Global X Japan Co. Ltd.'s holdings in Intuit were worth $23,963,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in 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 acquiring an additional 353,185 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Intuit by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock valued at $3,833,720,000 after purchasing an additional 132,384 shares during the period. Wellington Management Group LLP boosted its position in shares of Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after purchasing an additional 620,559 shares during the last quarter. Norges Bank bought a new position in shares of Intuit in the 4th quarter worth $2,290,419,000. Finally, Northern Trust Corp grew its stake in shares of Intuit by 17.3% during the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock worth $2,118,682,000 after purchasing an additional 498,030 shares during the period. Institutional investors own 83.66% of the company's stock.

Insider Activity at Intuit

In other news, EVP Marianna Tessel sold 7,385 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the transaction, the executive vice president now directly owns 40,190 shares of the company's stock, valued at approximately $24,119,224.70. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 62,816 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $765.99, for a total value of $48,116,427.84. Following the completion of the sale, the insider now owns 6,000,679 shares of the company's stock, valued at approximately $4,596,460,107.21. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 286,706 shares of company stock worth $212,420,665. Corporate insiders own 2.68% of the company's stock.

Intuit Trading Down 1.3%

Shares of NASDAQ:INTU opened at $754.83 on Thursday. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $773.45. The business has a 50 day moving average of $675.86 and a 200-day moving average of $632.87. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock has a market cap of $210.56 billion, a PE ratio of 61.27, a P/E/G ratio of 3.40 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results 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 return on equity of 21.46% and a net margin of 19.07%. The business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the firm posted $9.88 EPS. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. Intuit's payout ratio is presently 33.77%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INTU. Royal Bank Of Canada restated an "outperform" rating and set a $850.00 target price (up previously from $760.00) on shares of Intuit in a report on Friday, May 23rd. UBS Group set a $750.00 price target on shares of Intuit and gave the company a "neutral" rating in a report on Friday, May 23rd. Mizuho increased their price target on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Susquehanna reissued a "positive" rating on shares of Intuit in a research note on Friday, May 23rd. Finally, Jefferies Financial Group set a $850.00 price objective on shares of Intuit and gave the stock a "buy" rating in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $787.95.

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.

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