Sompo Asset Management Co. Ltd. Buys 1,280 Shares of Intuit Inc. (NASDAQ:INTU)

Sompo Asset Management Co. Ltd. raised its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 44.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,180 shares of the software maker's stock after purchasing an additional 1,280 shares during the quarter. Sompo Asset Management Co. Ltd.'s holdings in Intuit were worth $2,627,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd acquired a new position in Intuit during the fourth quarter worth $25,000. NewSquare Capital LLC increased its stake in shares of 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 during the last quarter. Heck Capital Advisors LLC bought a new stake in shares of Intuit in the 4th quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit in the 4th quarter valued at about $28,000. Finally, Summit Securities Group LLC bought a new position in Intuit during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Price Performance

Shares of INTU opened at $583.56 on Wednesday. The business's fifty day moving average is $591.87 and its 200 day moving average is $616.12. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $163.14 billion, a P/E ratio of 56.66, a P/E/G ratio of 2.85 and a beta of 1.25.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit's dividend payout ratio is currently 38.81%.

Insider Transactions at Intuit

In other news, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the sale, the executive vice president now directly owns 21,882 shares of the company's stock, valued at $13,401,849.72. This represents a 27.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the transaction, the insider now owns 6,219,900 shares in the company, valued at $3,758,436,774. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock valued at $14,347,731 over the last three months. Corporate insiders own 2.68% of the company's stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of several research analyst reports. Morgan Stanley dropped their price objective on Intuit from $730.00 to $720.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Citigroup cut their price target on Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the company from $600.00 to $700.00 in a report on Thursday, April 17th. StockNews.com cut shares of Intuit from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $785.00 price target (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Intuit presently has a consensus rating of "Moderate Buy" and a consensus price target of $718.56.

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.

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