Tokio Marine Asset Management Co. Ltd. reduced its position in shares of Intuit Inc. (NASDAQ:INTU) by 3.8% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 61,495 shares of the company’s stock after selling 2,426 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Intuit were worth $6,765,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Nisa Investment Advisors LLC boosted its position in Intuit by 3.6% in the second quarter. Nisa Investment Advisors LLC now owns 117,570 shares of the company’s stock worth $13,122,000 after buying an additional 4,050 shares during the period. Bank of Montreal Can purchased a new position in Intuit during the second quarter worth approximately $9,604,000. Calamos Wealth Management LLC purchased a new position in Intuit during the second quarter worth approximately $961,000. Calamos Advisors LLC purchased a new position in Intuit during the second quarter worth approximately $29,077,000. Finally, First Midwest Bank Trust Division boosted its position in Intuit by 6.2% in the second quarter. First Midwest Bank Trust Division now owns 5,273 shares of the company’s stock worth $588,000 after buying an additional 310 shares during the period. Hedge funds and other institutional investors own 85.72% of the company’s stock.
Shares of Intuit Inc. (NASDAQ:INTU) opened at 119.56 on Wednesday. Intuit Inc. has a 52 week low of $88.17 and a 52 week high of $119.70. The stock’s 50 day moving average is $116.62 and its 200 day moving average is $112.34. The firm has a market cap of $30.68 billion, a P/E ratio of 31.99 and a beta of 1.07.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 17th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Intuit had a net margin of 20.59% and a return on equity of 82.77%. The firm had revenue of $778 million for the quarter, compared to analyst estimates of $754.36 million. During the same quarter in the previous year, the business posted $0.09 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts predict that Intuit Inc. will post $4.35 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 18th. Shareholders of record on Tuesday, January 10th were issued a $0.34 dividend. The ex-dividend date was Friday, January 6th. This represents a $1.36 dividend on an annualized basis and a yield of 1.15%. Intuit’s dividend payout ratio is currently 36.27%.
INTU has been the topic of a number of research reports. Brean Capital restated a “buy” rating and set a $135.00 price target on shares of Intuit in a research note on Wednesday, December 28th. Deutsche Bank AG reiterated a “buy” rating and issued a $130.00 price objective on shares of Intuit in a research note on Friday, November 18th. Zacks Investment Research upgraded Intuit from a “sell” rating to a “hold” rating in a research note on Wednesday, January 18th. Evercore ISI reiterated a “hold” rating on shares of Intuit in a research note on Wednesday, December 28th. Finally, J P Morgan Chase & Co reiterated a “hold” rating and issued a $114.00 price objective on shares of Intuit in a research note on Thursday, November 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $200.83.
In other Intuit news, EVP Henry Tayloe Stansbury sold 26,189 shares of the business’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $115.59, for a total value of $3,027,186.51. Following the transaction, the executive vice president now owns 26,859 shares in the company, valued at approximately $3,104,631.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark J. Flournoy sold 1,892 shares of the business’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $115.47, for a total transaction of $218,469.24. The disclosure for this sale can be found here. Insiders sold a total of 33,694 shares of company stock worth $3,896,876 in the last quarter. 5.70% of the stock is currently owned by company insiders.
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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