Intuit Inc. (NASDAQ:INTU) Shares Bought by AKO Capital LLP

AKO Capital LLP grew its holdings in Intuit Inc. (NASDAQ:INTU) by 8.3% during the fourth quarter, HoldingsChannel reports. The fund owned 594,479 shares of the software maker’s stock after purchasing an additional 45,603 shares during the period. Intuit accounts for about 5.2% of AKO Capital LLP’s investment portfolio, making the stock its 8th biggest holding. AKO Capital LLP’s holdings in Intuit were worth $373,630,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $2,290,419,000. Caisse Des Depots ET Consignations acquired a new position in shares of Intuit in the fourth quarter valued at approximately $560,000. NEOS Investment Management LLC raised its position in Intuit by 25.2% during the 4th quarter. NEOS Investment Management LLC now owns 35,523 shares of the software maker’s stock worth $22,326,000 after buying an additional 7,142 shares during the last quarter. UniSuper Management Pty Ltd raised its holdings in Intuit by 38.5% during the fourth quarter. UniSuper Management Pty Ltd now owns 83,743 shares of the software maker’s stock worth $52,632,000 after purchasing an additional 23,262 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Intuit by 8.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 464,651 shares of the software maker’s stock valued at $292,837,000 after buying an additional 37,386 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction that occurred 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 132,896 shares of company stock valued at $82,946,716 over the last 90 days. 2.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. Mizuho upped their target price on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Scotiabank lowered their price target 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. BMO Capital Markets decreased their target price on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Stock Performance

Shares of Intuit stock opened at $614.86 on Thursday. 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 1 year low of $553.24 and a 1 year high of $714.78. The firm’s 50-day simple moving average is $595.84 and its 200-day simple moving average is $622.71. The firm has a market cap of $171.89 billion, a PE ratio of 59.70, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

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

About Intuit

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.