BI Asset Management Fondsmaeglerselskab A S Acquires 25,098 Shares of Intuit Inc. (NASDAQ:INTU)

BI Asset Management Fondsmaeglerselskab A S increased its holdings in Intuit Inc. (NASDAQ:INTU) by 170.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,782 shares of the software maker’s stock after purchasing an additional 25,098 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Intuit were worth $25,003,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTU. Capital Research Global Investors bought a new stake in Intuit in the fourth quarter valued at $227,910,000. Dimensional Fund Advisors LP raised its stake in shares of Intuit by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 569,987 shares of the software maker’s stock valued at $358,245,000 after acquiring an additional 14,842 shares during the last quarter. Forum Financial Management LP increased its holdings in Intuit by 29.6% during the 4th quarter. Forum Financial Management LP now owns 1,450 shares of the software maker’s stock valued at $911,000 after purchasing an additional 331 shares in the last quarter. Freedom Investment Management Inc. boosted its stake in Intuit by 2.5% in the fourth quarter. Freedom Investment Management Inc. now owns 3,004 shares of the software maker’s stock worth $1,888,000 after purchasing an additional 73 shares in the last quarter. Finally, GeoWealth Management LLC raised its holdings in shares of Intuit by 5.6% in the fourth quarter. GeoWealth Management LLC now owns 3,390 shares of the software maker’s stock valued at $2,131,000 after buying an additional 180 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of research reports. Oppenheimer lowered their price target on shares of Intuit from $722.00 to $642.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Mizuho raised 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. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and increased their target price for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Morgan Stanley lowered their price target on Intuit from $730.00 to $720.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $718.56.

Intuit Price Performance

NASDAQ INTU opened at $585.38 on Friday. The firm’s 50 day moving average is $592.03 and its 200-day moving average is $616.49. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $163.65 billion, a PE ratio of 56.83, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $714.78.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.71%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Insider Transactions at Intuit

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the sale, the executive vice president now owns 21,882 shares in the company, valued at $13,401,849.72. This trade represents a 27.17 % decrease in their ownership of the stock. 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 business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now owns 6,219,900 shares in the company, 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. Insiders sold a total of 23,696 shares of company stock worth $14,347,731 in the last three months. Insiders own 2.68% of the company’s stock.

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.