Fullerton Fund Management Co Ltd. Purchases 1,220 Shares of Intuit Inc. (NASDAQ:INTU)

Fullerton Fund Management Co Ltd. lifted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 57.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,348 shares of the software maker's stock after purchasing an additional 1,220 shares during the period. Fullerton Fund Management Co Ltd.'s holdings in Intuit were worth $2,104,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Whalen Wealth Management Inc. bought a new position in shares of Intuit during the 4th quarter worth approximately $621,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Intuit by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock worth $107,854,000 after acquiring an additional 3,648 shares during the period. Beacon Investment Advisory Services Inc. boosted its holdings in Intuit by 3.8% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker's stock worth $27,223,000 after buying an additional 1,602 shares during the last quarter. Graypoint LLC increased its stake in Intuit by 65.8% in the fourth quarter. Graypoint LLC now owns 4,045 shares of the software maker's stock valued at $2,542,000 after purchasing an additional 1,606 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in Intuit by 10.2% in the fourth quarter. Hantz Financial Services Inc. now owns 22,126 shares of the software maker's stock worth $13,906,000 after purchasing an additional 2,055 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Buying and Selling

In other news, Director Eve B. Burton sold 1,702 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the sale, the director now directly owns 8 shares in the company, valued at approximately $4,800. This represents a 99.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the sale, the insider now owns 6,219,900 shares of the company's stock, valued at $3,758,436,774. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,696 shares of company stock worth $14,347,731. Corporate insiders own 2.68% of the company's stock.

Intuit Stock Performance

Shares of NASDAQ:INTU traded down $5.50 during midday trading on Tuesday, reaching $656.80. 1,560,475 shares of the company traded hands, compared to its average volume of 1,598,213. The firm's fifty day moving average price is $603.27 and its two-hundred day moving average price is $617.99. The firm has a market capitalization of $183.62 billion, a price-to-earnings ratio of 63.77, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $714.78.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit's payout ratio is 38.81%.

Analysts Set New Price Targets

INTU has been the topic of several research reports. Redburn Atlantic started coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a "neutral" rating on the stock. BMO Capital Markets reduced their price objective on Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. StockNews.com raised Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. BNP Paribas downgraded Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price target for the company. in a research report on Wednesday, January 15th. Finally, Mizuho increased their target price on shares of Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $717.53.

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.