Tokio Marine Asset Management Co. Ltd. Purchases 460 Shares of Intuit Inc. (NASDAQ:INTU)

Key Points

• Tokio Marine Asset Management Co. Ltd. increased its holdings in Intuit Inc. by 5.7% in the first quarter, owning 8,498 shares valued at approximately $5.22 million.
• Intuit's recent quarterly earnings showed an EPS of $11.65, surpassing analysts' expectations of $10.89, while revenue rose to $7.75 billion, up 15.1% year-over-year.
• Intuit also announced a quarterly dividend of $1.04 per share, representing a dividend yield of 0.6%, with a payout ratio of 33.77%.

Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 5.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,498 shares of the software maker's stock after purchasing an additional 460 shares during the period. Tokio Marine Asset Management Co. Ltd.'s holdings in Intuit were worth $5,218,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. S Bank Fund Management Ltd purchased a new position in shares of Intuit in the 1st quarter valued at $5,891,000. National Pension Service raised its stake in shares of Intuit by 5.1% in the 1st quarter. National Pension Service now owns 591,336 shares of the software maker's stock valued at $363,074,000 after acquiring an additional 28,753 shares during the period. LGT Group Foundation raised its stake in shares of Intuit by 88.1% in the 1st quarter. LGT Group Foundation now owns 91,301 shares of the software maker's stock valued at $56,058,000 after acquiring an additional 42,765 shares during the period. LGT Fund Management Co Ltd. raised its stake in shares of Intuit by 2.6% in the 1st quarter. LGT Fund Management Co Ltd. now owns 6,499 shares of the software maker's stock valued at $3,990,000 after acquiring an additional 162 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Intuit by 4.0% in the 1st quarter. Russell Investments Group Ltd. now owns 365,081 shares of the software maker's stock valued at $223,491,000 after acquiring an additional 14,137 shares during the period. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Price Performance

Shares of INTU traded down $1.07 during mid-day trading on Thursday, reaching $710.64. The company had a trading volume of 1,240,965 shares, compared to its average volume of 1,609,849. The company's 50 day simple moving average is $764.85 and its 200 day simple moving average is $670.19. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $813.70. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market capitalization of $198.23 billion, a price-to-earnings ratio of 57.68, a P/E/G ratio of 2.74 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 (EPS) 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 firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter last year, the business earned $9.88 EPS. The company's revenue was up 15.1% compared to the same quarter last year. Analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's payout ratio is 33.77%.

Analysts Set New Price Targets

INTU has been the topic of several analyst reports. Jefferies Financial Group set a $850.00 price target on shares of Intuit and gave the stock a "buy" rating in a research note on Friday, May 23rd. Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Wells Fargo & Company set a $880.00 price target on shares of Intuit and gave the stock an "overweight" rating in a research note on Friday, June 13th. Citigroup reissued a "buy" rating and issued a $789.00 target price (up previously from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, CLSA assumed coverage on shares of Intuit in a research report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $806.27.

Insider Buying and Selling

In other Intuit news, EVP Laura A. Fennell sold 25,648 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the sale, the executive vice president directly owned 22,796 shares of the company's stock, valued at $17,148,291. This represents a 52.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kerry J. Mclean sold 16,700 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the sale, the executive vice president directly owned 23,101 shares in the company, valued at approximately $16,844,325.16. This trade represents a 41.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock worth $209,725,054 in the last ninety days. Corporate insiders own 2.68% of the company's stock.

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.