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

Dai ichi Life Insurance Company Ltd decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 48.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in Intuit by 68,404.7% in the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after acquiring an additional 483,621 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Intuit during the 2nd quarter valued at approximately $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 worth $1,062,578,000 after purchasing an additional 238,486 shares in the last quarter. Clearbridge Investments LLC boosted its position in Intuit by 21.3% in the second quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after buying an additional 169,190 shares in the last quarter. Finally, Seven Post Investment Office LP acquired a new stake in Intuit in the second quarter valued at approximately $107,513,000. 83.66% of the stock is owned by institutional investors.

Intuit Trading Down 0.9 %

Shares of NASDAQ:INTU opened at $634.62 on Tuesday. The business’s fifty day simple moving average is $634.58 and its 200-day simple moving average is $631.24. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. 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 company has a market capitalization of $177.77 billion, a PE ratio of 61.61, a P/E/G ratio of 3.13 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the firm earned $1.14 EPS. The firm’s revenue was up 10.2% on a year-over-year basis. As a group, equities research analysts predict that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.66%. The ex-dividend date is Thursday, January 9th. Intuit’s payout ratio is 40.39%.

Insider Buying and Selling

In other Intuit news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. The trade was a 18.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. This trade represents a 99.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,265 shares of company stock worth $35,200,125. 2.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

INTU has been the topic of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a report on Friday. Barclays dropped their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday. JPMorgan Chase & Co. raised their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday. Stifel Nicolaus lowered their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday. Finally, Oppenheimer increased their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average price target of $737.44.

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.