E. Ohman J or Asset Management AB Has $45.19 Million Stake in Intuit Inc. (NASDAQ:INTU)

E. Ohman J or Asset Management AB grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,774 shares of the software maker’s stock after acquiring an additional 760 shares during the quarter. Intuit accounts for approximately 1.1% of E. Ohman J or Asset Management AB’s investment portfolio, making the stock its 26th largest position. E. Ohman J or Asset Management AB’s holdings in Intuit were worth $45,193,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in INTU. International Assets Investment Management LLC increased its stake in shares of Intuit by 68,404.7% in the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after buying an additional 483,621 shares during the period. SG Americas Securities LLC increased its stake in shares of Intuit by 940.4% in the first quarter. SG Americas Securities LLC now owns 315,670 shares of the software maker’s stock valued at $205,186,000 after buying an additional 285,328 shares during the period. Vanguard Group Inc. increased its stake in shares of Intuit by 1.1% in the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after buying an additional 283,291 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Intuit in the second quarter valued at approximately $184,982,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after buying an additional 238,486 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Susquehanna reiterated a “positive” rating and issued a $757.00 target price on shares of Intuit in a report on Friday, August 16th. Citigroup upped their target price on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Barclays reduced their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $735.71.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the sale, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 775 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the sale, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock valued at $35,220,046 over the last ninety days. 2.90% of the stock is owned by company insiders.

Intuit Price Performance

Intuit stock opened at $603.98 on Friday. The stock has a market capitalization of $168.84 billion, a price-to-earnings ratio of 55.72, a PEG ratio of 3.04 and a beta of 1.24. Intuit Inc. has a 52-week low of $473.56 and a 52-week high of $676.62. The stock’s 50 day moving average price is $628.71 and its two-hundred day moving average price is $627.16. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. Intuit’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, equities analysts predict that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio is presently 38.38%.

About Intuit

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.