Intuit Inc. (NASDAQ:INTU) Shares Acquired by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina grew its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 140,693 shares of the software maker's stock after buying an additional 1,514 shares during the quarter. Treasurer of the State of North Carolina owned 0.05% of Intuit worth $88,426,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in INTU. Brown Financial Advisors lifted its position in 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 during the last quarter. True North Advisors LLC increased its stake in shares of Intuit by 4.3% in the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker's stock worth $257,000 after acquiring an additional 17 shares during the period. Great Diamond Partners LLC lifted its holdings in shares of Intuit by 2.8% in the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker's stock valued at $394,000 after buying an additional 17 shares during the period. Pacifica Partners Inc. grew its stake in shares of Intuit by 27.7% during the 4th quarter. Pacifica Partners Inc. now owns 83 shares of the software maker's stock worth $52,000 after purchasing an additional 18 shares during the period. Finally, Drive Wealth Management LLC raised its position in shares of Intuit by 2.4% in the fourth quarter. Drive Wealth Management LLC now owns 760 shares of the software maker's stock worth $478,000 after acquiring an additional 18 shares during the period. Institutional investors own 83.66% of the company's stock.

Remove Ads

Intuit Stock Performance

Shares of INTU stock traded down $1.51 during trading hours on Tuesday, hitting $592.04. The stock had a trading volume of 467,153 shares, compared to its average volume of 1,562,707. The stock's 50 day moving average is $591.81 and its 200 day moving average is $617.24. The firm has a market capitalization of $165.51 billion, a PE ratio of 57.48, a PEG ratio of 2.85 and a beta of 1.25. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit's payout ratio is currently 38.81%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Morgan Stanley raised shares of Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 price target for the company in a report on Wednesday, February 26th. Piper Sandler reissued an "overweight" rating and set a $785.00 price objective (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. BNP Paribas lowered Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price objective for the company. in a research report on Wednesday, January 15th. Citigroup reduced their price target on shares of Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group dropped their target price on Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a research report on Monday, March 31st. One research 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $713.56.

Insider Buying and Selling at Intuit

In other news, EVP Laura A. Fennell sold 8,163 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the transaction, the executive vice president now directly owns 21,882 shares of the company's stock, valued at $13,401,849.72. This represents a 27.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the 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 completion of the transaction, the insider now directly owns 6,219,900 shares of the company's stock, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is owned by company insiders.

Intuit 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.