Mizuho Securities USA LLC Acquires 8,438 Shares of Intuit Inc. (NASDAQ:INTU)

Mizuho Securities USA LLC lifted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 46.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,565 shares of the software maker's stock after purchasing an additional 8,438 shares during the period. Mizuho Securities USA LLC's holdings in Intuit were worth $16,696,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of INTU. Proficio Capital Partners LLC boosted its holdings in Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock valued at $668,595,000 after acquiring an additional 1,062,847 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Intuit during the fourth quarter worth approximately $300,854,000. Holocene Advisors LP grew its stake in shares of Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker's stock worth $388,487,000 after acquiring an additional 312,212 shares during the last quarter. Nordea Investment Management AB raised its stake in Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock valued at $371,984,000 after purchasing an additional 268,060 shares during the last quarter. Finally, Sustainable Growth Advisers LP boosted its holdings in Intuit by 20.7% in the 4th quarter. Sustainable Growth Advisers LP now owns 1,429,346 shares of the software maker's stock valued at $898,344,000 after purchasing an additional 245,372 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

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Intuit Trading Down 0.6 %

INTU traded down $3.86 during midday trading on Wednesday, reaching $614.86. 1,714,754 shares of the company were exchanged, compared to its average volume of 1,442,353. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $171.89 billion, a P/E ratio of 59.70, a PEG ratio of 2.85 and a beta of 1.27. The stock's 50-day simple moving average is $595.97 and its 200 day simple moving average is $622.76. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78.

Intuit Dividend Announcement

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

Analyst Upgrades and Downgrades

INTU has been the subject of a number of research analyst reports. StockNews.com lowered shares of Intuit from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. BNP Paribas lowered Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 target price for the company. in a research note on Wednesday, January 15th. Piper Sandler restated an "overweight" rating and issued a $785.00 price objective (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. BMO Capital Markets lowered their target price 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, Mizuho lifted their price objective on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $721.61.

Insiders Place Their Bets

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares of the company's stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the transaction, the executive vice president now directly owns 21,882 shares of the company's stock, valued at approximately $13,401,849.72. The trade was a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 132,896 shares of company stock worth $82,946,716. Company insiders own 2.68% of the company's stock.

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.