Meiji Yasuda Asset Management Co Ltd. Sells 282 Shares of Intuit Inc. (NASDAQ:INTU)

Meiji Yasuda Asset Management Co Ltd. lowered its position in Intuit Inc. (NASDAQ:INTU) by 4.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,507 shares of the software maker’s stock after selling 282 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Intuit were worth $3,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of INTU. R Squared Ltd purchased a new position in Intuit in the fourth quarter worth about $25,000. NewSquare Capital LLC lifted its stake in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares during the period. Heck Capital Advisors LLC purchased a new position in shares of Intuit in the fourth quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit during the fourth quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in Intuit during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $618.72 on Wednesday. The company has a market cap of $172.97 billion, a P/E ratio of 60.07, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm’s fifty day moving average is $595.97 and its two-hundred day moving average is $622.76.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. Intuit’s dividend payout ratio (DPR) is 38.81%.

Insider Buying and Selling

In related news, EVP Marianna Tessel sold 7,385 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05. Following the sale, the executive vice president now owns 40,190 shares in the company, valued at approximately $24,119,224.70. The trade was a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the transaction, the executive vice president now owns 21,882 shares of the company’s stock, valued at $13,401,849.72. This trade represents a 27.17 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 132,896 shares of company stock worth $82,946,716. Corporate insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on INTU shares. Mizuho lifted their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research report on Wednesday, January 15th. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. Redburn Atlantic began coverage on Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Finally, StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $721.61.

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.