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

SBI Securities Co. Ltd. purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 707 shares of the software maker’s stock, valued at approximately $444,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of INTU. Janney Montgomery Scott LLC lifted its position in shares of Intuit by 0.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 31,405 shares of the software maker’s stock valued at $19,503,000 after acquiring an additional 242 shares during the period. Impax Asset Management Group plc lifted its position in shares of Intuit by 27.2% during the 3rd quarter. Impax Asset Management Group plc now owns 22,248 shares of the software maker’s stock valued at $13,816,000 after acquiring an additional 4,759 shares during the period. Rational Advisors LLC raised its position in shares of Intuit by 169.5% during the 3rd quarter. Rational Advisors LLC now owns 1,000 shares of the software maker’s stock worth $621,000 after purchasing an additional 629 shares during the last quarter. Moloney Securities Asset Management LLC raised its position in shares of Intuit by 12.5% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 2,697 shares of the software maker’s stock worth $1,675,000 after purchasing an additional 300 shares during the last quarter. Finally, FSM Wealth Advisors LLC raised its position in shares of Intuit by 2.9% during the 3rd quarter. FSM Wealth Advisors LLC now owns 2,589 shares of the software maker’s stock worth $1,608,000 after purchasing an additional 72 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Down 0.5 %

Shares of NASDAQ INTU opened at $598.07 on Wednesday. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The firm has a fifty day moving average of $604.21 and a 200-day moving average of $626.30. The stock has a market capitalization of $167.20 billion, a PE ratio of 58.07, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.70%. Intuit’s dividend payout ratio is presently 38.81%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on INTU. Redburn Atlantic began coverage on Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. BMO Capital Markets cut 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. Oppenheimer lifted their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Barclays cut their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $720.50.

Insider Activity

In related news, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the transaction, the chief financial officer now owns 1,944 shares in the company, valued at approximately $1,221,804. The trade was a 5.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now owns 489 shares in the company, valued at $325,664.22. The trade was a 97.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 224,460 shares of company stock valued at $144,750,747 in the last ninety days. Company 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.