Intuit Inc. (NASDAQ:INTU) Shares Purchased by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV raised its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 114.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 160,840 shares of the software maker's stock after buying an additional 85,773 shares during the period. Nissay Asset Management Corp Japan ADV owned 0.06% of Intuit worth $102,708,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Aprio Wealth Management LLC increased its stake in shares of Intuit by 12.6% during the 4th quarter. Aprio Wealth Management LLC now owns 509 shares of the software maker's stock worth $320,000 after purchasing an additional 57 shares during the last quarter. Fiduciary Alliance LLC increased its stake in shares of Intuit by 30.0% during the 4th quarter. Fiduciary Alliance LLC now owns 541 shares of the software maker's stock worth $340,000 after purchasing an additional 125 shares during the last quarter. Capital Investment Advisors LLC increased its stake in shares of Intuit by 3.5% during the 4th quarter. Capital Investment Advisors LLC now owns 2,162 shares of the software maker's stock worth $1,359,000 after purchasing an additional 73 shares during the last quarter. Eastern Bank boosted its holdings in shares of Intuit by 2.7% during the 4th quarter. Eastern Bank now owns 1,470 shares of the software maker's stock worth $924,000 after buying an additional 39 shares during the period. Finally, Miracle Mile Advisors LLC grew its stake in Intuit by 7.9% in the 4th quarter. Miracle Mile Advisors LLC now owns 4,239 shares of the software maker's stock valued at $2,664,000 after buying an additional 311 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Hsbc Global Res upgraded shares of Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Mizuho boosted their price objective on shares of Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. JPMorgan Chase & Co. upgraded shares of Intuit from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Oppenheimer lowered their price objective on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Finally, Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $720.16.

Insiders Place Their Bets

In related news, EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the completion of the sale, the executive vice president now owns 40,190 shares of the company's stock, valued at $24,119,224.70. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction dated Thursday, March 20th. The stock was 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 of the company's stock, valued at $4,800. This trade represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is currently owned by corporate insiders.

Intuit Stock Up 1.4%

Shares of Intuit stock traded up $8.97 during trading on Friday, hitting $670.28. 1,555,132 shares of the stock traded hands, compared to its average volume of 1,606,742. The firm has a market cap of $187.38 billion, a P/E ratio of 65.08, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $714.78. The stock's fifty day simple moving average is $608.44 and its 200 day simple moving average is $619.16.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit's payout ratio is currently 38.81%.

Intuit 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.