DnB Asset Management AS Has $33.37 Million Holdings in Intuit Inc. (NASDAQ:INTU)

DnB Asset Management AS increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 5.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 53,090 shares of the software maker’s stock after acquiring an additional 2,668 shares during the period. DnB Asset Management AS’s holdings in Intuit were worth $33,367,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP lifted its stake in shares of Intuit by 1,027.3% in the third quarter. Quantbot Technologies LP now owns 124 shares of the software maker’s stock worth $77,000 after buying an additional 113 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings in Intuit by 2.4% during the third quarter. Glenmede Trust Co. NA now owns 15,647 shares of the software maker’s stock valued at $9,717,000 after acquiring an additional 361 shares during the period. Hantz Financial Services Inc. grew its position in shares of Intuit by 4.7% in the third quarter. Hantz Financial Services Inc. now owns 20,071 shares of the software maker’s stock valued at $12,464,000 after purchasing an additional 902 shares during the last quarter. Captrust Financial Advisors increased its stake in shares of Intuit by 6.9% in the third quarter. Captrust Financial Advisors now owns 64,896 shares of the software maker’s stock worth $40,300,000 after purchasing an additional 4,184 shares during the period. Finally, Eventide Asset Management LLC lifted its position in shares of Intuit by 66.9% during the 3rd quarter. Eventide Asset Management LLC now owns 5,971 shares of the software maker’s stock worth $3,708,000 after purchasing an additional 2,393 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Price Performance

NASDAQ:INTU opened at $598.92 on Friday. The stock has a market capitalization of $167.44 billion, a PE ratio of 58.15, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78. The firm has a fifty day simple moving average of $595.90 and a 200 day simple moving average of $622.46. 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 Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have commented on the company. Mizuho lifted their price target on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Citigroup cut their target price on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Scotiabank decreased their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Finally, Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price on the stock in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

Insider Activity

In other Intuit news, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the sale, the chief executive officer now owns 35,776 shares in the company, valued at $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction that occurred 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 transaction, the insider now owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 132,896 shares of company stock valued at $82,946,716. 2.68% of the stock is owned by company 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 four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.