Fayez Sarofim & Co Purchases 66,151 Shares of Intuit Inc. (NASDAQ:INTU)

Fayez Sarofim & Co lifted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 8.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 893,017 shares of the software maker's stock after acquiring an additional 66,151 shares during the quarter. Intuit comprises approximately 1.4% of Fayez Sarofim & Co's holdings, making the stock its 24th largest position. Fayez Sarofim & Co owned about 0.32% of Intuit worth $565,967,000 as of its most recent SEC filing.

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

Insider Activity at Intuit

In other Intuit news, 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 transaction, the insider now 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the business's stock in a transaction dated Monday, March 24th. The stock was 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 of the company's stock, valued at $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. Insiders have sold a total of 23,696 shares of company stock worth $14,347,731 over the last 90 days. Insiders own 2.68% of the company's stock.

Analysts Set New Price Targets

INTU has been the subject of several research analyst reports. Scotiabank upgraded shares of 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 research note on Thursday, April 17th. JPMorgan Chase & Co. upgraded shares of Intuit from a "neutral" rating to an "overweight" rating and increased their target price for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Citigroup lowered their price target on Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. BMO Capital Markets reduced their price objective on Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Finally, Morgan Stanley lowered their price objective on Intuit from $730.00 to $720.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $717.53.

Intuit Price Performance

Shares of NASDAQ:INTU traded up $9.29 during trading on Friday, reaching $624.12. The stock had a trading volume of 1,540,630 shares, compared to its average volume of 1,578,598. The stock has a market capitalization of $174.48 billion, a PE ratio of 60.59, 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 business's 50-day moving average price is $592.59 and its 200 day moving average price is $616.07. 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 Announces Dividend

The company also recently disclosed 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 dividend payout ratio is 38.81%.

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.