Capital Research Global Investors Purchases New Shares in Intuit Inc. (NASDAQ:INTU)

Capital Research Global Investors bought a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 362,626 shares of the software maker's stock, valued at approximately $227,910,000. Capital Research Global Investors owned 0.13% of Intuit as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTU. Dimensional Fund Advisors LP raised its position in Intuit by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 569,987 shares of the software maker's stock valued at $358,245,000 after purchasing an additional 14,842 shares in the last quarter. Forum Financial Management LP increased its stake in shares of Intuit by 29.6% in the 4th quarter. Forum Financial Management LP now owns 1,450 shares of the software maker's stock valued at $911,000 after purchasing an additional 331 shares during the last quarter. Freedom Investment Management Inc. raised its holdings in shares of Intuit by 2.5% during the 4th quarter. Freedom Investment Management Inc. now owns 3,004 shares of the software maker's stock worth $1,888,000 after buying an additional 73 shares in the last quarter. GeoWealth Management LLC lifted its position in shares of Intuit by 5.6% during the 4th quarter. GeoWealth Management LLC now owns 3,390 shares of the software maker's stock worth $2,131,000 after buying an additional 180 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Intuit by 0.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 240,652 shares of the software maker's stock valued at $151,175,000 after buying an additional 675 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the firm'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 value of $1,021,200.00. Following the completion of the sale, the director now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,696 shares of company stock valued at $14,347,731 over the last ninety days. 2.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

INTU has been the subject of a number of research reports. Jefferies Financial Group dropped their target price on shares of Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a report on Monday, March 31st. Citigroup decreased their target price on shares of Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. BMO Capital Markets dropped 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. Redburn Atlantic started coverage on Intuit in a research report on Wednesday, February 19th. They set a "neutral" rating on the stock. Finally, Oppenheimer lowered their target price on Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $718.56.

Intuit Trading Up 2.6 %

INTU stock traded up $14.72 during mid-day trading on Tuesday, reaching $583.56. The company's stock had a trading volume of 1,409,784 shares, compared to its average volume of 1,576,728. Intuit Inc. has a 12 month low of $532.65 and a 12 month 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 business's 50 day moving average price is $591.87 and its 200 day moving average price is $616.12. The company has a market cap of $163.14 billion, a price-to-earnings ratio of 56.66, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. Intuit's payout ratio is presently 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.