Royal London Asset Management Ltd. Has $180.74 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Royal London Asset Management Ltd. boosted its position in Intuit Inc. (NASDAQ:INTU) by 0.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 287,571 shares of the software maker’s stock after acquiring an additional 1,158 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Intuit were worth $180,738,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new stake in shares of Intuit during the fourth quarter valued at approximately $25,000. NewSquare Capital LLC increased its stake in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in Intuit during the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Intuit during the fourth quarter worth $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Intuit in the fourth quarter valued at $29,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intuit

In other Intuit news, CFO Sandeep Aujla sold 109 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the sale, the chief financial officer now owns 1,944 shares of the company’s stock, valued at $1,221,804. The trade was a 5.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction 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 sale, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,646 shares of company stock worth $72,494,045. Company insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Oppenheimer upped their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research note on Wednesday, January 15th. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Redburn Atlantic assumed coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating for the company. Finally, 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, November 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Price Performance

Shares of NASDAQ INTU opened at $603.11 on Thursday. 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 fifty day simple moving average of $596.98 and a two-hundred day simple moving average of $623.15. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78. The firm has a market cap of $168.61 billion, a price-to-earnings ratio of 58.55, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

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