iA Global Asset Management Inc. Boosts Stock Position in Intuit Inc. (NASDAQ:INTU)

iA Global Asset Management Inc. boosted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,930 shares of the software maker's stock after buying an additional 1,674 shares during the quarter. iA Global Asset Management Inc.'s holdings in Intuit were worth $19,440,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Brown Financial Advisors increased its holdings in shares of Intuit by 0.9% during the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker's stock valued at $1,018,000 after acquiring an additional 15 shares in the last quarter. Truvestments Capital LLC raised its holdings in Intuit by 1.5% in the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker's stock worth $669,000 after buying an additional 16 shares during the last quarter. True North Advisors LLC grew its holdings in shares of Intuit by 4.3% during the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker's stock valued at $257,000 after buying an additional 17 shares during the last quarter. Great Diamond Partners LLC increased its position in shares of Intuit by 2.8% during the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker's stock valued at $394,000 after acquiring an additional 17 shares in the last quarter. Finally, Prospera Financial Services Inc raised its holdings in Intuit by 1.8% in the 3rd quarter. Prospera Financial Services Inc now owns 1,008 shares of the software maker's stock worth $626,000 after acquiring an additional 18 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

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Intuit Price Performance

Intuit stock traded up $9.05 during midday trading on Monday, reaching $613.09. 1,702,978 shares of the stock traded hands, compared to its average volume of 1,439,823. The stock has a market cap of $171.40 billion, a P/E ratio of 59.52, a PEG ratio of 2.85 and a beta of 1.27. The stock's fifty day moving average is $596.08 and its 200-day moving average is $622.74. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit's dividend payout ratio is presently 38.81%.

Analysts Set New Price Targets

Several analysts have commented on INTU shares. Scotiabank cut their target price on Intuit from $700.00 to $600.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. Mizuho lifted their price objective on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Redburn Atlantic started coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a "neutral" rating on the stock. BMO Capital Markets reduced their price target on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Finally, BNP Paribas cut Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price target on the stock. in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $721.61.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 6,446 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction dated 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 transaction, the director now owns 8 shares of the company's stock, valued at approximately $4,800. This represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,348 shares of company stock valued at $73,515,245 over the last 90 days. 2.68% of the stock is owned by corporate 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.