Intuit Inc. (NASDAQ:INTU) Shares Acquired by First Foundation Advisors

First Foundation Advisors boosted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,385 shares of the software maker's stock after buying an additional 609 shares during the period. First Foundation Advisors' holdings in Intuit were worth $5,270,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Intuit in the 4th quarter worth about $2,290,419,000. Proficio Capital Partners LLC grew its stake in shares of Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock worth $668,595,000 after acquiring an additional 1,062,847 shares during the period. Wellington Management Group LLP raised its holdings in shares of Intuit by 13.3% during the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after purchasing an additional 620,559 shares during the last quarter. Raymond James Financial Inc. bought a new position in Intuit during the fourth quarter valued at approximately $300,854,000. Finally, Vanguard Group Inc. boosted its holdings in Intuit by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock worth $16,991,696,000 after purchasing an additional 353,185 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Price Performance

INTU traded up $0.92 during trading on Tuesday, reaching $594.47. The company's stock had a trading volume of 510,567 shares, compared to its average volume of 1,562,882. The company has a market cap of $166.19 billion, a price-to-earnings ratio of 57.72, a PEG ratio of 2.85 and a beta of 1.25. The firm has a fifty day simple moving average of $591.81 and a two-hundred day simple moving average of $617.24. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

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Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.70%. Intuit's dividend payout ratio is presently 38.81%.

Analyst Ratings Changes

Several analysts recently commented on INTU shares. Piper Sandler reaffirmed an "overweight" rating and issued a $785.00 price objective (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Jefferies Financial Group cut their price target on Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Mizuho increased their price objective on shares of Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research note on Monday, March 3rd. Morgan Stanley upgraded shares of Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 target price for the company in a research report on Wednesday, February 26th. Finally, Redburn Atlantic assumed coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a "neutral" rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $713.56.

Insider Activity

In related news, insider Scott D. Cook sold 6,446 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the transaction, the insider now directly owns 6,219,900 shares of the company's stock, valued at $3,758,436,774. The trade was a 0.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction that occurred 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 completion of the transaction, the director now owns 8 shares of the company's stock, valued at $4,800. This represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is currently owned by company insiders.

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.