AIA Group Ltd Makes New $845,000 Investment in Intuit Inc. (NASDAQ:INTU)

AIA Group Ltd purchased a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,345 shares of the software maker's stock, valued at approximately $845,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. R Squared Ltd purchased a new position in shares of Intuit in the 4th quarter worth approximately $25,000. NewSquare Capital LLC boosted its stake in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after buying an additional 18 shares during the period. Heck Capital Advisors LLC bought a new position in Intuit during the fourth quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit in the fourth quarter valued at $28,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Intuit in the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 6,446 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the sale, the insider now owns 6,219,900 shares of the company's stock, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the company's stock in a transaction dated Friday, January 10th. The shares were 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 in the company, valued at $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,862 shares of company stock valued at $18,767,673 in the last 90 days. Insiders own 2.68% of the company's stock.

Intuit Stock Down 6.2 %

NASDAQ:INTU traded down $37.00 during trading hours on Friday, reaching $561.53. The company's stock had a trading volume of 3,334,095 shares, compared to its average volume of 1,542,889. The stock has a 50 day moving average price of $595.64 and a two-hundred day moving average price of $620.79. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $156.98 billion, a P/E ratio of 54.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.74%. Intuit's dividend payout ratio (DPR) is presently 38.81%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on INTU. JPMorgan Chase & Co. upgraded shares of Intuit from a "neutral" rating to an "overweight" rating and upped their price target for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. Jefferies Financial Group reduced their price target on Intuit from $800.00 to $735.00 and set a "buy" rating on the stock in a report on Monday, March 31st. 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 report on Wednesday, February 26th. Morgan Stanley upgraded Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 target price on the stock in a research note on Wednesday, February 26th. Finally, Piper Sandler reissued an "overweight" rating and set a $785.00 target price (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $718.00.

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.