Stifel Financial Corp Acquires 8,089 Shares of Intuit Inc. (NASDAQ:INTU)

Stifel Financial Corp raised its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 412,634 shares of the software maker's stock after acquiring an additional 8,089 shares during the quarter. Stifel Financial Corp owned approximately 0.15% of Intuit worth $259,368,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True North Advisors LLC increased its position in Intuit by 4.3% during the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker's stock valued at $257,000 after purchasing an additional 17 shares during the period. Great Diamond Partners LLC raised its stake in Intuit by 2.8% in the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker's stock worth $394,000 after buying an additional 17 shares in the last quarter. Pacifica Partners Inc. lifted its holdings in Intuit by 27.7% in the fourth quarter. Pacifica Partners Inc. now owns 83 shares of the software maker's stock worth $52,000 after buying an additional 18 shares during the period. Drive Wealth Management LLC boosted its position in Intuit by 2.4% during the 4th quarter. Drive Wealth Management LLC now owns 760 shares of the software maker's stock valued at $478,000 after acquiring an additional 18 shares in the last quarter. Finally, NewSquare Capital LLC boosted its position in 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 acquiring an additional 18 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction on 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 completion of the sale, the insider now owns 6,219,900 shares of the company's stock, valued at $3,758,436,774. The trade was a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction dated 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 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 quarter. Company insiders own 2.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on INTU shares. JPMorgan Chase & Co. upgraded Intuit from a "neutral" rating to an "overweight" rating and raised their target price for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. BNP Paribas lowered Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price objective for the company. in a research report on Wednesday, January 15th. Citigroup reduced their target price on shares of Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Piper Sandler reiterated an "overweight" rating and issued a $785.00 price target (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Finally, HSBC raised shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Intuit currently has an average rating of "Moderate Buy" and an average target price of $717.53.

Intuit Stock Performance

NASDAQ INTU traded up $9.29 during trading hours on Friday, hitting $624.12. The company's stock had a trading volume of 1,540,629 shares, compared to its average volume of 1,578,598. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $174.48 billion, a P/E ratio of 60.59, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The company's 50 day simple moving average is $592.59 and its two-hundred day simple moving average is $616.07. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $714.78.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders 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 annualized dividend and a dividend yield of 0.67%. Intuit's payout ratio is 38.81%.

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.