E. Ohman J or Asset Management AB Has $46.67 Million Stake in Intuit Inc. (NASDAQ:INTU)

E. Ohman J or Asset Management AB grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 74,254 shares of the software maker’s stock after acquiring an additional 1,480 shares during the quarter. Intuit accounts for 1.1% of E. Ohman J or Asset Management AB’s holdings, making the stock its 20th biggest position. E. Ohman J or Asset Management AB’s holdings in Intuit were worth $46,669,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. R Squared Ltd bought a new position in shares of Intuit during the 4th quarter worth about $25,000. Northwest Investment Counselors LLC acquired a new position in Intuit during the 3rd quarter worth approximately $27,000. Heck Capital Advisors LLC bought a new position in Intuit in the fourth quarter worth approximately $28,000. Sugar Maple Asset Management LLC bought a new stake in shares of Intuit during the fourth quarter valued at approximately $29,000. Finally, Denver PWM LLC acquired a new position in shares of Intuit during the third quarter worth approximately $32,000. 83.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of recent research reports. Scotiabank began coverage on shares of Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Morgan Stanley boosted their target price on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research report on Wednesday, January 15th. Barclays cut their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Stock Down 0.1 %

Shares of NASDAQ INTU opened at $600.76 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $168.16 billion, a PE ratio of 58.33, a P/E/G ratio of 2.96 and a beta of 1.25. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The business’s fifty day moving average price is $630.95 and its 200-day moving average price is $633.26.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company earned $1.14 earnings per share. On average, equities research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sasan K. Goodarzi sold 26,562 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $625.89, for a total value of $16,624,890.18. Following the transaction, the chief executive officer now directly owns 37,869 shares of the company’s stock, valued at $23,701,828.41. The trade was a 41.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by company insiders.

About Intuit

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.