FUKOKU MUTUAL LIFE INSURANCE Co Cuts Holdings in Intuit Inc. $INTU

FUKOKU MUTUAL LIFE INSURANCE Co decreased its holdings in Intuit Inc. (NASDAQ:INTU) by 2.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 7,037 shares of the software maker’s stock after selling 191 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Intuit were worth $5,543,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Intuit by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 27,707,966 shares of the software maker’s stock worth $21,823,625,000 after acquiring an additional 377,657 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Intuit by 7.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,018,770 shares of the software maker’s stock valued at $5,537,435,000 after purchasing an additional 649,212 shares during the last quarter. Geode Capital Management LLC raised its holdings in Intuit by 1.8% in the second quarter. Geode Capital Management LLC now owns 6,423,636 shares of the software maker’s stock worth $5,042,107,000 after purchasing an additional 115,721 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Intuit by 6.8% during the first quarter. Wellington Management Group LLP now owns 5,655,249 shares of the software maker’s stock valued at $3,472,266,000 after buying an additional 358,328 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Intuit by 1.2% during the first quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker’s stock valued at $1,890,282,000 after buying an additional 36,513 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. UBS Group reduced their price objective on shares of Intuit from $750.00 to $725.00 and set a “neutral” rating for the company in a research note on Friday, August 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intuit in a research report on Wednesday, October 8th. Zacks Research lowered Intuit from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Royal Bank Of Canada restated an “outperform” rating and set a $850.00 target price on shares of Intuit in a research note on Tuesday, September 2nd. Finally, Citigroup reduced their target price on Intuit from $815.00 to $803.00 and set a “buy” rating on the stock in a research report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $799.35.

Insider Activity

In related news, Director Scott D. Cook sold 529 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $664.99, for a total value of $351,779.71. Following the transaction, the director owned 6,162,547 shares in the company, valued at approximately $4,098,032,129.53. This represents a 0.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard L. Dalzell sold 333 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $661.15, for a total transaction of $220,162.95. Following the transaction, the director directly owned 14,475 shares of the company’s stock, valued at $9,570,146.25. This represents a 2.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 2,407 shares of company stock valued at $1,614,913. Company insiders own 2.68% of the company’s stock.

Intuit Price Performance

Shares of INTU opened at $650.62 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.36 and a quick ratio of 1.36. The company’s fifty day moving average price is $666.42 and its 200-day moving average price is $707.07. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $813.70. The firm has a market capitalization of $181.40 billion, a PE ratio of 47.35, a price-to-earnings-growth ratio of 2.53 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 21st. The software maker reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Intuit had a return on equity of 22.72% and a net margin of 20.55%.The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same quarter last year, the business posted $1.99 EPS. The firm’s quarterly revenue was up 20.3% on a year-over-year basis. On average, equities research analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

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.