Taikang Asset Management Hong Kong Co Ltd Lowers Holdings in Intuit Inc. (NASDAQ:INTU)

Taikang Asset Management Hong Kong Co Ltd lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 57.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,128 shares of the software maker’s stock after selling 12,160 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd’s holdings in Intuit were worth $5,737,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Brown Financial Advisors lifted its stake in Intuit by 0.9% in the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after buying an additional 15 shares during the last quarter. Truvestments Capital LLC raised its position in Intuit by 1.5% in the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after purchasing an additional 16 shares during the last quarter. True North Advisors LLC boosted its stake in Intuit by 4.3% during the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock worth $257,000 after purchasing an additional 17 shares during the period. Great Diamond Partners LLC grew its position in Intuit by 2.8% during the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after purchasing an additional 17 shares during the last quarter. Finally, RB Capital Management LLC increased its stake in Intuit by 0.6% in the third quarter. RB Capital Management LLC now owns 3,169 shares of the software maker’s stock valued at $1,968,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the topic of a number of research reports. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a report on Wednesday, February 26th. Piper Sandler reissued an “overweight” rating and issued a $785.00 target price (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. BMO Capital Markets cut their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Mizuho upped their price objective on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Stock Up 1.5 %

Intuit stock opened at $613.09 on Tuesday. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The firm has a market capitalization of $171.40 billion, a price-to-earnings ratio of 59.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The stock’s fifty day moving average is $596.08 and its two-hundred day moving average is $622.74. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

Insider Buying and Selling at Intuit

In other news, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the transaction, the executive vice president now directly owns 30,010 shares of the company’s stock, valued at $18,414,736.20. The trade was a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now directly owns 8 shares in the company, valued at approximately $4,800. The trade was a 99.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,733 shares of company stock valued at $77,947,205 over the last quarter. Corporate insiders own 2.68% of the company’s stock.

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.