Norinchukin Bank The Increases Stake in Intuit Inc. (NASDAQ:INTU)

Norinchukin Bank The raised its position in Intuit Inc. (NASDAQ:INTU) by 9.3% during the first quarter, HoldingsChannel reports. The firm owned 25,452 shares of the software maker’s stock after purchasing an additional 2,170 shares during the period. Norinchukin Bank The’s holdings in Intuit were worth $9,750,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Nvwm LLC lifted its holdings in Intuit by 0.8% in the 4th quarter. Nvwm LLC now owns 3,220 shares of the software maker’s stock valued at $1,223,000 after purchasing an additional 26 shares in the last quarter. RiverFront Investment Group LLC lifted its holdings in Intuit by 4.6% in the 1st quarter. RiverFront Investment Group LLC now owns 587 shares of the software maker’s stock valued at $225,000 after purchasing an additional 26 shares in the last quarter. Glassman Wealth Services raised its holdings in shares of Intuit by 16.8% during the 1st quarter. Glassman Wealth Services now owns 188 shares of the software maker’s stock worth $72,000 after acquiring an additional 27 shares during the period. AdvisorNet Financial Inc raised its holdings in shares of Intuit by 4.2% during the 1st quarter. AdvisorNet Financial Inc now owns 695 shares of the software maker’s stock worth $266,000 after acquiring an additional 28 shares during the period. Finally, JFS Wealth Advisors LLC raised its holdings in shares of Intuit by 2.1% during the 1st quarter. JFS Wealth Advisors LLC now owns 1,391 shares of the software maker’s stock worth $533,000 after acquiring an additional 28 shares during the period. Institutional investors own 83.82% of the company’s stock.

Shares of INTU stock opened at $471.33 on Friday. The business’s fifty day simple moving average is $420.95. Intuit Inc. has a 1-year low of $274.19 and a 1-year high of $473.71. The firm has a market capitalization of $128.80 billion, a price-to-earnings ratio of 60.43, a PEG ratio of 4.25 and a beta of 1.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.96 and a quick ratio of 1.96.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Monday, May 24th. The software maker reported $6.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $6.19 by ($0.12). Intuit had a return on equity of 28.76% and a net margin of 23.93%. The business had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same period in the prior year, the company earned $4.49 EPS. The company’s revenue was up 39.0% on a year-over-year basis. On average, equities research analysts anticipate that Intuit Inc. will post 7.26 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 19th. Shareholders of record on Monday, July 12th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.50%. The ex-dividend date is Friday, July 9th. Intuit’s dividend payout ratio (DPR) is 35.98%.

INTU has been the topic of several analyst reports. Mizuho lifted their price target on Intuit from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Wednesday, May 26th. Bank of America restated a “buy” rating and issued a $460.00 price objective on shares of Intuit in a report on Wednesday, April 14th. Citigroup boosted their price objective on shares of Intuit from $383.00 to $411.00 and gave the company a “neutral” rating in a report on Friday, February 12th. Barclays boosted their price objective on shares of Intuit from $482.00 to $540.00 and gave the company an “overweight” rating in a report on Wednesday, May 26th. Finally, Stifel Nicolaus lifted their target price on Intuit from $425.00 to $490.00 and gave the company a “buy” rating in a research report on Wednesday, May 26th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $465.71.

In related news, CFO Michelle M. Clatterbuck sold 414 shares of the stock in a transaction on Thursday, May 27th. The stock was sold at an average price of $436.21, for a total transaction of $180,590.94. Following the sale, the chief financial officer now owns 546 shares of the company’s stock, valued at $238,170.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP James Alexander Chriss sold 437 shares of the stock in a transaction on Thursday, May 27th. The shares were sold at an average price of $436.21, for a total value of $190,623.77. Following the sale, the executive vice president now directly owns 627 shares in the company, valued at approximately $273,503.67. The disclosure for this sale can be found here. Insiders sold 168,912 shares of company stock worth $72,890,386 in the last three months. 3.38% of the stock is owned by corporate insiders.

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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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