Intuit Inc. (NASDAQ:INTU) Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 569,987 shares of the software maker's stock after buying an additional 14,842 shares during the quarter. Dimensional Fund Advisors LP owned 0.20% of Intuit worth $358,245,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Forum Financial Management LP raised its position in Intuit by 29.6% during the fourth 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 in the last quarter. Freedom Investment Management Inc. lifted its position in Intuit by 2.5% in the fourth quarter. Freedom Investment Management Inc. now owns 3,004 shares of the software maker's stock valued at $1,888,000 after purchasing an additional 73 shares during the last quarter. GeoWealth Management LLC boosted its position in Intuit by 5.6% during the 4th quarter. GeoWealth Management LLC now owns 3,390 shares of the software maker's stock valued at $2,131,000 after buying an additional 180 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of Intuit by 0.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 240,652 shares of the software maker's stock worth $151,175,000 after purchasing an additional 675 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Intuit by 44.7% during the fourth quarter. Canada Pension Plan Investment Board now owns 248,723 shares of the software maker's stock valued at $156,322,000 after buying an additional 76,841 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Performance

Shares of Intuit stock traded up $18.78 on Thursday, hitting $614.83. The stock had a trading volume of 1,599,267 shares, compared to its average volume of 1,578,749. The stock has a market cap of $171.88 billion, a price-to-earnings ratio of 59.69, a P/E/G ratio of 2.85 and a beta of 1.25. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $714.78. The company's 50 day moving average price is $592.04 and its 200 day moving average price is $615.98. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were issued a $1.04 dividend. The ex-dividend date was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit's payout ratio is 38.81%.

Analyst Ratings Changes

INTU has been the topic of a number of recent research reports. Piper Sandler reaffirmed an "overweight" rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. BMO Capital Markets dropped their price target on Intuit from $760.00 to $714.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Oppenheimer reduced their price objective on Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Finally, StockNews.com cut Intuit from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and an average target price of $717.53.

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 value of $3,895,059.96. Following the completion of the sale, the insider now directly owns 6,219,900 shares of the company's stock, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction on Thursday, March 20th. The shares were 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 in the company, valued at approximately $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock worth $14,347,731 in the last 90 days. 2.68% of the stock is owned by insiders.

About Intuit

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.