Natixis Purchases 21,176 Shares of Intuit Inc. (NASDAQ:INTU)

Natixis increased its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 162.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,230 shares of the software maker's stock after purchasing an additional 21,176 shares during the quarter. Natixis' holdings in Intuit were worth $21,514,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Intuit during the 4th quarter valued at $2,290,419,000. Proficio Capital Partners LLC boosted its position in shares of Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock valued at $668,595,000 after acquiring an additional 1,062,847 shares during the period. Wellington Management Group LLP boosted its position in shares of Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after acquiring an additional 620,559 shares during the period. Raymond James Financial Inc. bought a new stake in Intuit during the 4th quarter worth approximately $300,854,000. Finally, Capital Research Global Investors purchased a new stake in Intuit in the 4th quarter worth approximately $227,910,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Buying and Selling at Intuit

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the transaction, the director now directly owns 8 shares in the company, valued at approximately $4,800. This represents a 99.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marianna Tessel sold 7,385 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the completion of the sale, the executive vice president now owns 40,190 shares of the company's stock, valued at $24,119,224.70. This trade represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,696 shares of company stock valued at $14,347,731 in the last quarter. Company insiders own 2.68% of the company's stock.

Intuit Trading Up 3.1 %

Intuit stock traded up $18.68 during trading hours on Thursday, reaching $614.73. The company had a trading volume of 958,161 shares, compared to its average volume of 1,575,545. 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 Inc. has a 12-month low of $532.65 and a 12-month high of $714.78. The company has a 50-day moving average price of $592.04 and a 200 day moving average price of $615.98. The firm has a market cap of $171.86 billion, a price-to-earnings ratio of 59.68, a P/E/G ratio of 2.85 and a beta of 1.25.

Intuit Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently weighed in on INTU shares. Scotiabank raised shares of Intuit from a "sector perform" rating to a "sector outperform" rating and upped their price target for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. Redburn Atlantic began coverage on Intuit in a research note on Wednesday, February 19th. They issued a "neutral" rating on the stock. Jefferies Financial Group dropped their price target on Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a research report on Monday, March 31st. StockNews.com cut shares of Intuit from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. upgraded shares of Intuit from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $717.53.

Intuit Company 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.