Intuit Inc. (NASDAQ:INTU) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 11.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,724 shares of the software maker’s stock after selling 10,861 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Intuit were worth $50,735,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB grew its stake in shares of Intuit by 83.2% during 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 in the last quarter. Whalen Wealth Management Inc. acquired a new stake in shares of Intuit during the fourth quarter valued at about $621,000. Retireful LLC acquired a new stake in shares of Intuit during the third quarter valued at about $740,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Intuit during the third quarter worth about $56,144,000. Finally, Howe & Rusling Inc. lifted its position in shares of Intuit by 8.0% during the third quarter. Howe & Rusling Inc. now owns 10,857 shares of the software maker’s stock worth $6,742,000 after purchasing an additional 808 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intuit

In related news, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the sale, the executive vice president now owns 30,010 shares of the company’s stock, valued at $18,414,736.20. The trade was a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 189,301 shares of company stock worth $121,470,200. Company insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of several research analyst reports. Redburn Atlantic initiated coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. Mizuho increased their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Citigroup reduced their price target on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price target (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group increased their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. 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. Based on data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $721.61.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $598.80 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a 50 day simple moving average of $598.23 and a 200-day simple moving average of $623.66. The company has a market cap of $167.40 billion, a PE ratio of 58.14, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given 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 0.69%. Intuit’s dividend payout ratio is presently 38.81%.

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.