Intuit Inc. (NASDAQ:INTU) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Intuit Inc. (NASDAQ:INTU) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,706 shares of the software maker’s stock after buying an additional 1,880 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Intuit were worth $32,497,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brookstone Capital Management grew its position in Intuit by 1.8% in the 3rd quarter. Brookstone Capital Management now owns 2,020 shares of the software maker’s stock worth $1,254,000 after purchasing an additional 35 shares during the last quarter. CWM LLC boosted its position in shares of Intuit by 1.4% during the third quarter. CWM LLC now owns 16,910 shares of the software maker’s stock worth $10,501,000 after buying an additional 227 shares during the period. Abner Herrman & Brock LLC grew its holdings in Intuit by 0.4% in the 3rd quarter. Abner Herrman & Brock LLC now owns 29,242 shares of the software maker’s stock worth $18,159,000 after buying an additional 112 shares in the last quarter. Wedmont Private Capital increased its position in Intuit by 1.4% in the 3rd quarter. Wedmont Private Capital now owns 3,729 shares of the software maker’s stock valued at $2,246,000 after acquiring an additional 51 shares during the period. Finally, Quotient Wealth Partners LLC raised its stake in Intuit by 1.4% during the 3rd quarter. Quotient Wealth Partners LLC now owns 2,529 shares of the software maker’s stock valued at $1,571,000 after acquiring an additional 36 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on INTU shares. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley lifted their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Barclays dropped their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Stifel Nicolaus cut their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Finally, Piper Sandler restated an “overweight” rating and issued a $765.00 target price on shares of Intuit in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $590.20 on Friday. The firm has a market cap of $165.21 billion, a price-to-earnings ratio of 57.30, a P/E/G ratio of 2.96 and a beta of 1.25. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $628.37 and a 200 day simple moving average of $632.37.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the company earned $1.14 EPS. The firm’s revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.70%. Intuit’s dividend payout ratio (DPR) is 40.39%.

Insider Activity

In related news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by corporate insiders.

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.