Sequoia Financial Advisors LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 11.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,136 shares of the software maker's stock after purchasing an additional 1,607 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Intuit were worth $9,513,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in INTU. R Squared Ltd bought a new position in Intuit in the 4th quarter worth approximately $25,000. NewSquare Capital LLC grew its holdings 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 in the last quarter. Heck Capital Advisors LLC bought a new position in Intuit in the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit in the 4th quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Intuit in the fourth quarter worth approximately $29,000. 83.66% of the stock is owned by institutional investors.
Insider Buying and Selling at Intuit
In other news, CEO Sasan K. Goodarzi sold 75,000 shares of the company's stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the transaction, the chief executive officer now directly owns 35,776 shares of the company's stock, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Scott D. Cook sold 73,655 shares of the company's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the completion of the transaction, the insider now directly owns 6,301,286 shares in the company, valued at $4,189,977,112.84. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 189,301 shares of company stock valued at $121,470,200 in the last three months. 2.68% of the stock is currently owned by company insiders.
Intuit Stock Down 1.7 %
NASDAQ:INTU traded down $9.82 during trading hours on Thursday, hitting $581.32. 2,269,071 shares of the stock traded hands, compared to its average volume of 1,917,570. The firm has a 50 day moving average price of $598.85 and a 200 day moving average price of $623.76. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The firm has a market cap of $162.51 billion, a price-to-earnings ratio of 56.44, a PEG ratio of 2.85 and a beta of 1.27.
Intuit Announces Dividend
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 0.72%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit's dividend payout ratio (DPR) is currently 38.81%.
Wall Street Analyst Weigh In
INTU has been the subject of a number of research analyst reports. Mizuho upped their target price on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Oppenheimer upped their target price on Intuit from $712.00 to $722.00 and gave the stock an "outperform" rating in a research report on Friday, November 22nd. BMO Capital Markets cut their target price on Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Redburn Atlantic initiated coverage on Intuit in a research report on Wednesday, February 19th. They issued a "neutral" rating for the company. Finally, Morgan Stanley upgraded Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 target price for the company in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $721.61.
Read Our Latest Analysis on Intuit
About Intuit
(
Free Report)
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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