Royal London Asset Management Ltd. Buys 1,158 Shares of Intuit Inc. (NASDAQ:INTU)

Royal London Asset Management Ltd. increased its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 287,571 shares of the software maker's stock after acquiring an additional 1,158 shares during the period. Royal London Asset Management Ltd. owned about 0.10% of Intuit worth $180,738,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Intuit in the fourth quarter worth about $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 during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit in the 4th quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Intuit in the fourth quarter valued at approximately $29,000. 83.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on INTU. BMO Capital Markets dropped their price target on Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Mizuho lifted their price target on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. upgraded 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. Scotiabank dropped their price objective on shares of Intuit from $700.00 to $600.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. Finally, Redburn Atlantic assumed coverage on shares of Intuit in a report on Wednesday, February 19th. They set a "neutral" rating on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $721.61.

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Intuit Stock Up 1.5 %

Shares of NASDAQ INTU traded up $9.05 during trading on Monday, hitting $613.09. 1,702,978 shares of the company traded hands, compared to its average volume of 1,439,822. The firm has a market capitalization of $171.40 billion, a price-to-earnings ratio of 59.52, a P/E/G ratio of 2.85 and a beta of 1.27. The business's fifty day moving average is $596.08 and its 200 day moving average is $622.80. 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 Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit's dividend payout ratio (DPR) is currently 38.81%.

Insiders Place Their Bets

In other Intuit news, EVP Mark P. Notarainni sold 363 shares of the company's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $228,145.50. Following the transaction, the executive vice president now owns 19 shares in the company, valued at approximately $11,941.50. This represents a 95.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction dated 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 transaction, the chief executive officer now owns 35,776 shares of the company's stock, valued at $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,348 shares of company stock worth $73,515,245. Corporate insiders own 2.68% of the company's stock.

Intuit 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.