8,539 Shares in Intuit Inc. (NASDAQ:INTU) Acquired by Madison Investment Advisors LLC

Madison Investment Advisors LLC bought a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,539 shares of the software maker's stock, valued at approximately $5,367,000.

Several other institutional investors have also recently made changes to their positions in the stock. Nordea Investment Management AB increased its holdings in Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock valued at $371,984,000 after acquiring an additional 268,060 shares during the last quarter. Whalen Wealth Management Inc. bought a new stake in shares of Intuit during the 4th quarter worth approximately $621,000. Beacon Investment Advisory Services Inc. boosted its stake in shares of Intuit by 3.8% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker's stock valued at $27,223,000 after purchasing an additional 1,602 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Intuit by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock worth $107,854,000 after acquiring an additional 3,648 shares in the last quarter. Finally, Douglas Lane & Associates LLC raised its position in Intuit by 109.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker's stock valued at $15,502,000 after purchasing an additional 12,916 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

Analysts Set New Price Targets

INTU has been the topic of a number of analyst reports. Mizuho lifted their price objective on shares of Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research 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 note on Wednesday, March 5th. Scotiabank cut their price target on shares of Intuit from $700.00 to $600.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. Redburn Atlantic started coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a "neutral" rating on the stock. Finally, Citigroup reduced their target price on shares of Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Intuit currently has a consensus rating of "Moderate Buy" and an average target price of $721.61.

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Intuit Price Performance

Shares of NASDAQ INTU traded down $3.86 during midday trading on Wednesday, hitting $614.86. The stock had a trading volume of 1,714,543 shares, compared to its average volume of 1,440,594. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a 50 day simple moving average of $595.97 and a 200-day simple moving average of $622.76. The company has a market capitalization of $171.89 billion, a PE ratio of 59.70, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78.

Intuit Announces Dividend

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 issued a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. Intuit's payout ratio is 38.81%.

Insider Activity

In other news, CEO Sasan K. Goodarzi sold 26,562 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the completion of the sale, the chief executive officer now owns 37,869 shares in the company, valued at $23,701,828.41. This trade represents a 41.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the company's 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 completion of the transaction, the insider now owns 6,219,900 shares in the company, valued at $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 132,896 shares of company stock worth $82,946,716 over the last ninety days. Corporate 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.