Intuit Inc. (INTU) Shares Bought by Norinchukin Bank The
Norinchukin Bank The lifted its stake in Intuit Inc. (NASDAQ:INTU) by 7.2% during the fourth quarter, Holdings Channel reports. The firm owned 19,418 shares of the software maker’s stock after purchasing an additional 1,302 shares during the period. Norinchukin Bank The’s holdings in Intuit were worth $3,064,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Horan Capital Advisors LLC. bought a new position in shares of Intuit in the third quarter worth about $114,000. SeaCrest Wealth Management LLC purchased a new stake in Intuit in the fourth quarter worth about $170,000. Highstreet Asset Management Inc. purchased a new stake in Intuit in the third quarter worth about $159,000. Trellis Advisors LLC purchased a new stake in Intuit in the fourth quarter worth about $201,000. Finally, Americafirst Capital Management LLC purchased a new stake in Intuit in the third quarter worth about $184,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.
A number of analysts recently weighed in on the stock. Citigroup reaffirmed a “hold” rating and issued a $170.00 price objective (up from $157.00) on shares of Intuit in a research note on Monday, January 29th. Oppenheimer upped their price objective on shares of Intuit from $166.00 to $181.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Zacks Investment Research raised shares of Intuit from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Deutsche Bank reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Intuit in a research note on Tuesday, January 9th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $185.00 price objective (up from $170.00) on shares of Intuit in a research note on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the stock. Intuit currently has a consensus rating of “Hold” and a consensus price target of $159.42.
In related news, EVP Henry Tayloe Stansbury sold 7,882 shares of the stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $152.05, for a total value of $1,198,458.10. Following the completion of the transaction, the executive vice president now directly owns 5,207 shares of the company’s stock, valued at approximately $791,724.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Scott D. Cook sold 183,334 shares of the stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $151.46, for a total transaction of $27,767,767.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 687,595 shares of company stock valued at $107,334,732. Insiders own 5.59% of the company’s stock.
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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