FUKOKU MUTUAL LIFE INSURANCE Co Sells 311 Shares of Intuit Inc. (NASDAQ:INTU)

FUKOKU MUTUAL LIFE INSURANCE Co trimmed its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,228 shares of the software maker’s stock after selling 311 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Intuit were worth $4,489,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INTU. LGT Financial Advisors LLC purchased a new stake in shares of Intuit during the 2nd quarter valued at about $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit during the second quarter worth $26,000. Fairway Wealth LLC purchased a new stake in shares of Intuit during the second quarter valued at $26,000. Northwest Investment Counselors LLC purchased a new stake in Intuit during the 3rd quarter valued at about $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Intuit in the 2nd quarter valued at about $35,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Bank of America increased their price objective on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Susquehanna reissued a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Finally, BMO Capital Markets increased their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $735.71.

Insiders Place Their Bets

In related news, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $15,752,985.01. The trade was a 30.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Laura A. Fennell sold 30,159 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the transaction, the executive vice president now directly owns 52,038 shares in the company, valued at approximately $33,427,129.68. The trade was a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock worth $35,220,046 over the last ninety days. 2.90% of the stock is owned by company insiders.

Intuit Stock Down 0.8 %

INTU opened at $700.76 on Friday. The firm’s fifty day moving average is $630.03 and its 200 day moving average is $629.21. Intuit Inc. has a fifty-two week low of $552.68 and a fifty-two week high of $714.78. The stock has a market cap of $196.42 billion, a price-to-earnings ratio of 67.06, a price-to-earnings-growth ratio of 3.45 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the business earned $0.40 EPS. Intuit’s quarterly revenue was up 17.4% on a year-over-year basis. On average, sell-side analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.59%. Intuit’s dividend payout ratio is 39.81%.

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.