Hyperion Asset Management Ltd Lowers Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Hyperion Asset Management Ltd lessened its position in Intuit Inc. (NASDAQ:INTU) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 146,946 shares of the software maker’s stock after selling 1,605 shares during the quarter. Intuit makes up 3.1% of Hyperion Asset Management Ltd’s investment portfolio, making the stock its 11th largest holding. Hyperion Asset Management Ltd owned approximately 0.05% of Intuit worth $92,356,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of INTU. Norges Bank acquired a new position in shares of Intuit in the fourth quarter valued at approximately $2,290,419,000. Proficio Capital Partners LLC increased its position in shares of Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after acquiring an additional 1,062,847 shares during the period. Wellington Management Group LLP raised its stake in shares of Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after acquiring an additional 620,559 shares in the last quarter. Unisphere Establishment boosted its holdings in Intuit by 50.0% in the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker’s stock valued at $942,750,000 after purchasing an additional 500,000 shares during the period. Finally, Northern Trust Corp grew its stake in Intuit by 17.3% during the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker’s stock worth $2,118,682,000 after purchasing an additional 498,030 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Hsbc Global Res upgraded Intuit from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. Mizuho increased their price objective on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. HSBC raised shares of Intuit from a “hold” rating to a “buy” rating and set a $699.00 price objective for the company in a research report on Wednesday, April 23rd. Finally, Citigroup dropped their target price on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $717.53.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Marianna Tessel sold 7,385 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 40,190 shares of the company’s stock, valued at $24,119,224.70. This represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,696 shares of company stock worth $14,347,731 over the last ninety days. 2.68% of the stock is currently owned by company insiders.

Intuit Price Performance

Intuit stock opened at $653.88 on Friday. The business has a 50 day simple moving average of $602.37 and a 200-day simple moving average of $617.53. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $182.80 billion, a PE ratio of 63.48, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Thursday, April 10th. Intuit’s payout ratio is 38.81%.

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.