Intuit Inc. (NASDAQ:INTU) Shares Acquired by Asahi Life Asset Management CO. LTD.

Asahi Life Asset Management CO. LTD. boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 74.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,093 shares of the software maker’s stock after buying an additional 465 shares during the quarter. Asahi Life Asset Management CO. LTD.’s holdings in Intuit were worth $687,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of INTU. Pinnacle Associates Ltd. boosted its position in shares of Intuit by 1.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,328 shares of the software maker’s stock valued at $830,000 after purchasing an additional 22 shares in the last quarter. Financial Advocates Investment Management lifted its stake in Intuit by 7.4% during the third quarter. Financial Advocates Investment Management now owns 1,220 shares of the software maker’s stock valued at $758,000 after purchasing an additional 84 shares during the last quarter. Stephens Inc. AR boosted its holdings in Intuit by 1.6% during the third quarter. Stephens Inc. AR now owns 12,156 shares of the software maker’s stock worth $7,549,000 after buying an additional 193 shares in the last quarter. Principal Securities Inc. grew its position in Intuit by 9.6% in the third quarter. Principal Securities Inc. now owns 6,888 shares of the software maker’s stock worth $4,278,000 after buying an additional 606 shares during the last quarter. Finally, Brooklyn FI LLC increased its holdings in shares of Intuit by 88.3% in the third quarter. Brooklyn FI LLC now owns 936 shares of the software maker’s stock valued at $581,000 after buying an additional 439 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INTU has been the subject of several research reports. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and issued a $785.00 price target (up previously from $765.00) on shares of Intuit in a research report on Wednesday. Barclays cut their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. JPMorgan Chase & Co. raised their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, BMO Capital Markets cut their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $717.88.

Insider Transactions at Intuit

In related news, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. The trade was a 67.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott D. Cook sold 73,655 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the transaction, the insider now directly owns 6,301,286 shares in the company, valued at $4,189,977,112.84. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 218,014 shares of company stock valued at $140,855,687 in the last three months. Corporate insiders own 2.68% of the company’s stock.

Intuit Trading Up 2.2 %

NASDAQ INTU opened at $613.84 on Friday. 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 1-year low of $553.24 and a 1-year high of $714.78. The firm’s fifty day simple moving average is $605.90 and its 200-day simple moving average is $627.12. The company has a market capitalization of $171.82 billion, a PE ratio of 59.60, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date is Thursday, April 10th. Intuit’s payout ratio is currently 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.