Dai ichi Life Insurance Company Ltd Sells 19,167 Shares of Intuit Inc. (NASDAQ:INTU)

Dai ichi Life Insurance Company Ltd lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 48.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,675 shares of the software maker’s stock after selling 19,167 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Intuit were worth $12,839,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in shares of Intuit by 68,404.7% during the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after purchasing an additional 483,621 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in Intuit in the second quarter worth $184,982,000. Ameriprise Financial Inc. increased its position in Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after buying an additional 238,486 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Intuit by 21.3% during the second quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after acquiring an additional 169,190 shares in the last quarter. Finally, Seven Post Investment Office LP acquired a new position in Intuit during the 2nd quarter valued at approximately $107,513,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity

In related news, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. The trade was a 30.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the sale, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. The trade was a 89.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,265 shares of company stock valued at $35,200,125. Company insiders own 2.90% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $634.62 on Tuesday. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The company has a market cap of $177.77 billion, a price-to-earnings ratio of 61.61, a PEG ratio of 3.13 and a beta of 1.25. The business has a 50 day moving average price of $634.58 and a 200 day moving average price of $631.24. 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 (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the previous year, the firm posted $1.14 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. Research analysts predict that Intuit Inc. will post 14.05 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 annualized dividend and a dividend yield of 0.66%. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

Analyst Ratings Changes

A number of brokerages have recently commented on INTU. Oppenheimer raised their price objective on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday. Morgan Stanley boosted their target price on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday. Jefferies Financial Group lifted their price target on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday. Barclays decreased their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Stifel Nicolaus dropped their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average price target of $737.44.

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.