APG Asset Management N.V. Purchases 237,371 Shares of Intuit Inc. (NASDAQ:INTU)

APG Asset Management N.V. lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 474.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 287,399 shares of the software maker's stock after acquiring an additional 237,371 shares during the quarter. APG Asset Management N.V. owned approximately 0.10% of Intuit worth $174,438,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Nordea Investment Management AB boosted its position in Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock worth $371,984,000 after purchasing an additional 268,060 shares during the period. Whalen Wealth Management Inc. bought a new stake in shares of Intuit during the 4th quarter worth about $621,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Intuit by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock valued at $107,854,000 after buying an additional 3,648 shares during the last quarter. Beacon Investment Advisory Services Inc. raised its holdings in Intuit by 3.8% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker's stock valued at $27,223,000 after acquiring an additional 1,602 shares during the period. Finally, Douglas Lane & Associates LLC lifted its position in Intuit by 109.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker's stock worth $15,502,000 after acquiring an additional 12,916 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

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Intuit Price Performance

Shares of INTU stock traded up $9.57 during trading hours on Friday, reaching $587.04. The company's stock had a trading volume of 1,479,882 shares, compared to its average volume of 1,567,880. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $714.78. The firm's 50 day simple moving average is $591.70 and its 200-day simple moving average is $617.55. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $164.11 billion, a price-to-earnings ratio of 56.99, a PEG ratio of 2.85 and a beta of 1.25.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.71%. The ex-dividend date is Thursday, April 10th. Intuit's dividend payout ratio (DPR) is presently 38.81%.

Insiders Place Their Bets

In other Intuit news, EVP Marianna Tessel sold 7,385 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05. Following the sale, the executive vice president now owns 40,190 shares in the company, valued at $24,119,224.70. This trade represents a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Eve B. Burton sold 1,702 shares of the business's stock in a transaction 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 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. Over the last 90 days, insiders sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Mizuho upped their target price on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Piper Sandler reaffirmed an "overweight" rating and issued a $785.00 price objective (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Redburn Atlantic started coverage on Intuit in a report on Wednesday, February 19th. They set a "neutral" rating for the company. BMO Capital Markets decreased their price target on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Finally, BNP Paribas cut shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price objective for the company. in a research note on Wednesday, January 15th. One 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. Based on data from MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and an average price target of $713.56.

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.