SBI Securities Co. Ltd. Invests $444,000 in Intuit Inc. (NASDAQ:INTU)

SBI Securities Co. 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 Securities & Exchange Commission. The fund purchased 707 shares of the software maker's stock, valued at approximately $444,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of INTU. Proficio Capital Partners LLC raised its stake in Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock valued at $668,595,000 after purchasing an additional 1,062,847 shares in the last quarter. Holocene Advisors LP grew its position in Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker's stock valued at $388,487,000 after acquiring an additional 312,212 shares during the last quarter. Nordea Investment Management AB grew its position in Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock valued at $371,984,000 after acquiring an additional 268,060 shares during the last quarter. State Street Corp grew its position in Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker's stock valued at $7,648,910,000 after acquiring an additional 221,885 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in Intuit in the fourth quarter valued at about $104,278,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Trading Up 3.3 %

INTU stock traded up $19.44 during trading on Wednesday, hitting $617.51. The company had a trading volume of 1,614,913 shares, compared to its average volume of 1,910,791. The business has a 50-day moving average of $603.65 and a 200-day moving average of $626.24. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78. The stock has a market cap of $172.63 billion, a PE ratio of 59.95, a PEG ratio of 2.85 and a beta of 1.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Announces Dividend

The firm also recently declared 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. This represents a $4.16 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit's dividend payout ratio (DPR) is presently 38.81%.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Laura A. Fennell sold 7,700 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $657.64, for a total value of $5,063,828.00. Following the transaction, the executive vice president now directly owns 33,916 shares of the company's stock, valued at approximately $22,304,518.24. The trade was a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark P. Notarainni sold 3,649 shares of the business's stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the transaction, the executive vice president now directly owns 19 shares in the company, valued at approximately $12,286.92. This trade represents a 99.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 224,460 shares of company stock valued at $144,750,747. 2.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

INTU has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upgraded Intuit from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $640.00 to $660.00 in a research report on Wednesday. Stifel Nicolaus decreased their target price on Intuit from $795.00 to $725.00 and set a "buy" rating on the stock in a research report on Friday, November 22nd. Redburn Atlantic initiated coverage on Intuit in a research report on Wednesday, February 19th. They issued a "neutral" rating on the stock. BNP Paribas cut Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price target on the stock. in a report on Wednesday, January 15th. Finally, Mizuho boosted their price target on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a report on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $721.61.

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.