Nissay Asset Management Corp Japan ADV Grows Stake in Intuit Inc. (NASDAQ:INTU)

Nissay Asset Management Corp Japan ADV boosted its position in Intuit Inc. (NASDAQ:INTU) by 114.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,840 shares of the software maker’s stock after purchasing an additional 85,773 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Intuit were worth $102,708,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of INTU. R Squared Ltd acquired a new position in shares of Intuit during the 4th quarter worth $25,000. NewSquare Capital LLC lifted its holdings in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Intuit in the fourth quarter valued at about $28,000. Heck Capital Advisors LLC acquired a new stake in Intuit during the 4th quarter valued at $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Intuit during the fourth quarter worth $28,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intuit

In other Intuit news, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the transaction, the director now owns 8 shares in the company, valued at approximately $4,800. The trade was a 99.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the completion of the transaction, the executive vice president now owns 40,190 shares in the company, valued at approximately $24,119,224.70. This trade represents a 15.52% decrease in their position. 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 in the last ninety days. 2.68% of the stock is owned by insiders.

Intuit Trading Down 0.8%

Shares of INTU opened at $656.80 on Wednesday. The company has a market capitalization of $183.62 billion, a P/E ratio of 63.77, a P/E/G ratio of 2.85 and a beta of 1.24. The stock has a 50-day moving average price of $604.28 and a 200 day moving average price of $618.26. Intuit Inc. has a one year low of $532.65 and a one year high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were given a $1.04 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.63%. Intuit’s dividend payout ratio is presently 38.81%.

Analysts Set New Price Targets

INTU has been the subject of a number of recent research reports. BMO Capital Markets dropped their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Piper Sandler reissued an “overweight” rating and issued a $785.00 price objective (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Scotiabank raised shares of Intuit from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. Hsbc Global Res raised Intuit from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Finally, BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $717.53.

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.