Asahi Life Asset Management CO. LTD. Grows Stock Position in Intuit Inc. (NASDAQ:INTU)

Asahi Life Asset Management CO. LTD. grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 74.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,093 shares of the software maker’s stock after purchasing an additional 465 shares during the period. Asahi Life Asset Management CO. LTD.’s holdings in Intuit were worth $687,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. State Street Corp lifted its holdings in Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after buying an additional 221,885 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Intuit by 1.4% during the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after acquiring an additional 80,463 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Intuit by 2.9% in the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after acquiring an additional 107,482 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Intuit by 3.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker’s stock valued at $1,499,744,000 after purchasing an additional 88,487 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Intuit by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock valued at $1,428,790,000 after purchasing an additional 87,517 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 218,014 shares of company stock worth $140,855,687. Company insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. Barclays dropped their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group increased their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Oppenheimer boosted their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price target (up previously from $765.00) on shares of Intuit in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $717.88.

Intuit Trading Up 2.2 %

Shares of NASDAQ:INTU opened at $613.84 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $605.90 and its 200 day moving average price is $627.12. The company has a market cap of $171.82 billion, a PE ratio of 59.60, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

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.