Price T Rowe Associates Inc. MD Has $5.26 Billion Stake in Intuit Inc. (NASDAQ:INTU)

Price T Rowe Associates Inc. MD decreased its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,369,558 shares of the software maker's stock after selling 28,821 shares during the quarter. Intuit comprises about 0.6% of Price T Rowe Associates Inc. MD's portfolio, making the stock its 22nd biggest holding. Price T Rowe Associates Inc. MD owned about 2.99% of Intuit worth $5,260,268,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in INTU. R Squared Ltd bought a new stake in shares of Intuit during the 4th quarter worth about $25,000. NewSquare Capital LLC lifted its holdings in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in Intuit in the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit during the 4th quarter worth $28,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Intuit during the fourth quarter worth $28,000. 83.66% of the stock is owned by institutional investors.

Insider Buying and Selling at Intuit

In related news, EVP Laura A. Fennell sold 8,163 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the transaction, the executive vice president now owns 21,882 shares in the company, valued at $13,401,849.72. The trade was a 27.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction dated 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 sale, the insider now owns 6,219,900 shares of the company's stock, valued at approximately $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. In the last quarter, insiders have sold 23,696 shares of company stock worth $14,347,731. Insiders own 2.68% of the company's stock.

Intuit Trading Up 1.5 %

Shares of INTU stock traded up $9.29 during trading hours on Friday, hitting $624.12. 1,540,630 shares of the company's stock traded hands, compared to its average volume of 1,579,940. The stock has a market cap of $174.48 billion, a PE ratio of 60.59, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The stock's 50 day simple moving average is $593.48 and its 200 day simple moving average is $616.14. 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 $532.65 and a 12 month high of $714.78.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit's payout ratio is presently 38.81%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on INTU shares. Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and lifted their price target for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price on the stock in a report on Wednesday. BNP Paribas downgraded Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price target for the company. in a research note on Wednesday, January 15th. Finally, BMO Capital Markets reduced their price objective 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $717.53.

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.