Vanguard Group Inc. Acquires 353,185 Shares of Intuit Inc. (NASDAQ:INTU)

Vanguard Group Inc. lifted its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,035,316 shares of the software maker's stock after acquiring an additional 353,185 shares during the period. Vanguard Group Inc. owned about 9.66% of Intuit worth $16,991,696,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in INTU. R Squared Ltd acquired a new stake in shares of Intuit during the fourth quarter worth $25,000. NewSquare Capital LLC grew its position in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after buying an additional 18 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in Intuit during the fourth quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit in the fourth quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Intuit in the fourth quarter valued at approximately $29,000. 83.66% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Laura A. Fennell sold 8,163 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 21,882 shares in the company, valued at approximately $13,401,849.72. The trade was a 27.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 132,896 shares of company stock worth $82,946,716 over the last quarter. Corporate insiders own 2.68% of the company's stock.

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Intuit Price Performance

Shares of INTU traded up $0.44 during midday trading on Thursday, reaching $615.30. The stock had a trading volume of 1,205,595 shares, compared to its average volume of 1,441,948. The firm's 50 day moving average price is $596.00 and its 200-day moving average price is $622.66. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The company has a market capitalization of $172.01 billion, a P/E ratio of 59.74, a P/E/G ratio of 2.85 and a beta of 1.27. 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 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 dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit's dividend payout ratio (DPR) is currently 38.81%.

Analyst Ratings Changes

INTU has been the topic of a number of research reports. StockNews.com cut Intuit from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Piper Sandler reiterated an "overweight" rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Redburn Atlantic began coverage on shares of Intuit in a report on Wednesday, February 19th. They set a "neutral" rating for the company. Citigroup dropped their price objective on shares of Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Finally, Mizuho boosted their target price on shares of Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $721.61.

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.