Intuit Inc. (NASDAQ:INTU) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 3.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,557 shares of the software maker's stock after acquiring an additional 1,851 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Intuit were worth $32,883,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of INTU. Copia Wealth Management bought a new stake in Intuit in the 4th quarter valued at $25,000. NewSquare Capital LLC grew its position in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Intuit in the fourth quarter worth about $28,000. Heck Capital Advisors LLC purchased a new stake in shares of Intuit in the fourth quarter worth about $28,000. Finally, VSM Wealth Advisory LLC bought a new position in Intuit during the fourth quarter valued at approximately $35,000. 83.66% of the stock is owned by institutional investors.

Intuit Trading Down 1.0%

Intuit stock traded down $8.02 during trading hours on Tuesday, hitting $779.61. The company had a trading volume of 1,923,283 shares, compared to its average volume of 1,616,037. The firm has a market cap of $217.47 billion, a P/E ratio of 63.28, a P/E/G ratio of 3.45 and a beta of 1.28. The company has a 50-day moving average price of $704.91 and a two-hundred day moving average price of $639.06. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $802.00. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) 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 company had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the prior year, the firm earned $9.88 earnings per share. Intuit's revenue was up 15.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Insider Transactions at Intuit

In related news, EVP Kerry J. Mclean sold 16,700 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total value of $12,176,972.00. Following the sale, the executive vice president owned 23,101 shares in the company, valued at $16,844,325.16. This represents a 41.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Marianna Tessel sold 34,329 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the completion of the transaction, the executive vice president owned 40,767 shares in the company, valued at approximately $31,017,164.28. This trade represents a 45.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 272,896 shares of company stock worth $204,351,942 over the last 90 days. Insiders own 2.68% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on INTU shares. BMO Capital Markets reaffirmed an "outperform" rating and issued a $820.00 price objective (up previously from $714.00) on shares of Intuit in a research note on Friday, May 23rd. CLSA initiated coverage on shares of Intuit in a research note on Thursday, June 26th. They set an "outperform" rating and a $900.00 price target on the stock. Morgan Stanley reissued an "overweight" rating and issued a $785.00 price objective (up from $720.00) on shares of Intuit in a research note on Friday, May 23rd. Stifel Nicolaus boosted their target price on shares of Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Finally, KeyCorp reaffirmed an "overweight" rating and issued a $850.00 price target (up previously from $770.00) on shares of Intuit in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $793.05.

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.