Fullerton Fund Management Co Ltd. Buys 1,220 Shares of Intuit Inc. (NASDAQ:INTU)

Fullerton Fund Management Co Ltd. lifted its stake in Intuit Inc. (NASDAQ:INTU) by 57.3% during the fourth quarter, Holdings Channel reports. The fund owned 3,348 shares of the software maker’s stock after acquiring an additional 1,220 shares during the quarter. Fullerton Fund Management Co Ltd.’s holdings in Intuit were worth $2,104,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. ORG Partners LLC lifted its position in shares of Intuit by 61.2% during the 4th quarter. ORG Partners LLC now owns 224 shares of the software maker’s stock worth $141,000 after purchasing an additional 85 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Intuit by 1.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,600 shares of the software maker’s stock worth $18,382,000 after acquiring an additional 293 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Intuit by 2.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 3,353 shares of the software maker’s stock worth $2,107,000 after acquiring an additional 76 shares during the last quarter. Jacobs & Co. CA raised its stake in Intuit by 2.8% during the 4th quarter. Jacobs & Co. CA now owns 13,348 shares of the software maker’s stock valued at $8,389,000 after purchasing an additional 359 shares during the last quarter. Finally, Tilia Fiduciary Partners Inc. boosted its holdings in Intuit by 2.0% in the 4th quarter. Tilia Fiduciary Partners Inc. now owns 3,075 shares of the software maker’s stock valued at $1,933,000 after purchasing an additional 59 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on INTU. 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. HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 price objective for the company in a research report on Wednesday, April 23rd. Scotiabank upgraded Intuit from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. Mizuho raised their target price on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Finally, Jefferies Financial Group lowered their price target on shares of Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $717.53.

Insider Buying and Selling at Intuit

In other news, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction 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. The trade was a 27.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the sale, the director now directly owns 8 shares of the company’s stock, valued at approximately $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,696 shares of company stock worth $14,347,731. Insiders own 2.68% of the company’s stock.

Intuit Trading Down 0.3 %

Shares of NASDAQ INTU opened at $653.88 on Friday. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average of $602.37 and a two-hundred day moving average of $617.42. The company has a market cap of $182.80 billion, a PE ratio of 63.48, a P/E/G ratio of 2.85 and a beta of 1.24.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit’s dividend payout ratio is 38.81%.

Intuit 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.