American International Group Inc. Has $64.71 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

American International Group Inc. increased its position in Intuit Inc. (NASDAQ:INTU) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,524 shares of the software maker’s stock after buying an additional 399 shares during the period. American International Group Inc.’s holdings in Intuit were worth $64,706,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in INTU. Norges Bank purchased a new stake in shares of Intuit in the fourth quarter worth approximately $2,101,848,000. Lone Pine Capital LLC purchased a new stake in shares of Intuit in the fourth quarter worth approximately $467,852,000. Parnassus Investments LLC raised its stake in shares of Intuit by 119.0% in the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after purchasing an additional 727,185 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Intuit by 61.5% in the third quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock worth $690,244,000 after purchasing an additional 514,259 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in Intuit by 60,534.9% in the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock worth $295,609,000 after buying an additional 472,172 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Barclays raised their price target on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Mizuho raised their price target on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Wells Fargo & Company raised their price target on Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. Stifel Nicolaus lowered their price target on Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Intuit in a report on Friday. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $679.41.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Scott D. Cook sold 27,309 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the completion of the transaction, the insider now directly owns 6,524,412 shares in the company, valued at $3,870,020,221.92. The disclosure for this sale can be found here. Insiders have sold a total of 194,217 shares of company stock valued at $113,301,418 in the last ninety days. 2.90% of the stock is currently owned by corporate insiders.

Intuit Stock Up 0.2 %

Intuit stock traded up $1.08 during trading hours on Friday, hitting $595.70. 1,070,500 shares of the stock traded hands, compared to its average volume of 1,784,930. The firm’s 50-day moving average price is $617.54 and its two-hundred day moving average price is $624.57. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The company has a market cap of $166.53 billion, a PE ratio of 54.95, a PEG ratio of 3.41 and a beta of 1.21. Intuit Inc. has a one year low of $441.04 and a one year high of $676.62.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, beating the consensus estimate of $8.12 by $1.76. The business had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $7.80 EPS. On average, research analysts forecast that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be given a $0.90 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.60%. Intuit’s dividend payout ratio is currently 33.21%.

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.