Intuit Inc. (NASDAQ:INTU) Stock Holdings Increased by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. raised its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,804,476 shares of the software maker's stock after buying an additional 33,265 shares during the period. Intuit comprises approximately 0.7% of T. Rowe Price Investment Management Inc.'s investment portfolio, making the stock its 29th biggest position. T. Rowe Price Investment Management Inc. owned approximately 0.64% of Intuit worth $1,134,114,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in INTU. Norges Bank acquired a new position in shares of Intuit in the 4th quarter worth $2,290,419,000. Proficio Capital Partners LLC increased its stake in Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock worth $668,595,000 after purchasing an additional 1,062,847 shares in the last quarter. Wellington Management Group LLP raised its holdings in Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after buying an additional 620,559 shares during the period. Raymond James Financial Inc. purchased a new stake in Intuit during the fourth quarter valued at about $300,854,000. Finally, Capital Research Global Investors acquired a new position in shares of Intuit in the fourth quarter worth about $227,910,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Activity at Intuit

In other news, EVP Marianna Tessel sold 7,385 shares of the firm's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05. Following the sale, the executive vice president now owns 40,190 shares in the company, valued at approximately $24,119,224.70. This trade represents a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 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. In 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 insiders.

Intuit Stock Up 2.6 %

INTU opened at $583.56 on Wednesday. The firm has a market cap of $163.14 billion, a P/E ratio of 56.66, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. 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 business has a 50 day moving average price of $591.87 and a 200 day moving average price of $616.12. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $714.78.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit's dividend payout ratio is currently 38.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Oppenheimer cut their price target on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Redburn Atlantic began coverage on Intuit in a research report on Wednesday, February 19th. They issued a "neutral" rating for the company. Mizuho lifted their price target on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. JPMorgan Chase & Co. upgraded Intuit from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. Finally, Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and upped their target price for the company from $600.00 to $700.00 in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $718.56.

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.

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