Intuit Inc. (NASDAQ:INTU) Stock Holdings Lessened by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. lowered its stake in Intuit Inc. (NASDAQ:INTU) by 11.9% during the 4th quarter, Holdings Channel.com reports. 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 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of INTU. Proficio Capital Partners LLC increased its holdings in shares of Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after buying an additional 1,062,847 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Intuit during the 4th quarter valued at $300,854,000. Holocene Advisors LP raised its stake in Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after purchasing an additional 312,212 shares during the period. Nordea Investment Management AB raised its stake in Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares during the period. Finally, Sustainable Growth Advisers LP raised its stake in Intuit by 20.7% during the 4th quarter. Sustainable Growth Advisers LP now owns 1,429,346 shares of the software maker’s stock valued at $898,344,000 after purchasing an additional 245,372 shares during the period. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on INTU. Jefferies Financial Group boosted their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Oppenheimer boosted their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. Finally, Mizuho boosted their price target on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus price target of $721.61.

Intuit Trading Up 3.0 %

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. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The firm has a fifty day moving average price of $598.23 and a 200 day moving average price of $623.66. The stock has a market capitalization 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is 38.81%.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 73,655 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the completion of the sale, the insider now directly owns 6,301,286 shares in the company, valued at $4,189,977,112.84. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,301 shares of company stock worth $121,470,200 over 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.