Mitsubishi UFJ Asset Management Co. Ltd. Raises Holdings in Intuit Inc. (NASDAQ:INTU)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Intuit Inc. (NASDAQ:INTU) by 8.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 464,651 shares of the software maker’s stock after buying an additional 37,386 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.17% of Intuit worth $292,837,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. R Squared Ltd acquired a new position in shares of Intuit during the 4th quarter worth approximately $25,000. NewSquare Capital LLC increased its position in Intuit by 72.0% during 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 in the last quarter. Heck Capital Advisors LLC acquired a new position in Intuit in the 4th quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit during the 4th quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Intuit during the fourth quarter valued at approximately $29,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the transaction, the executive vice president now directly owns 21,882 shares of the company’s stock, valued at approximately $13,401,849.72. This trade represents a 27.17 % 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, CEO Sasan K. Goodarzi sold 75,000 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 132,896 shares of company stock worth $82,946,716. Company insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Intuit stock opened at $614.86 on Thursday. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78. The firm has a market cap of $171.89 billion, a P/E ratio of 59.70, a P/E/G ratio of 2.85 and a beta of 1.27. 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 firm has a 50-day moving average of $595.84 and a 200-day moving average of $622.71.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s payout ratio is 38.81%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. BNP Paribas cut shares of 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. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a report on Wednesday, February 26th. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Redburn Atlantic started coverage on Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Finally, 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 note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus 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.