Unigestion Holding SA Boosts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Unigestion Holding SA increased its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 32.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,431 shares of the software maker's stock after purchasing an additional 601 shares during the quarter. Unigestion Holding SA's holdings in Intuit were worth $1,528,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Nordea Investment Management AB raised 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 buying an additional 268,060 shares during the last quarter. Whalen Wealth Management Inc. bought a new position in shares of Intuit during the fourth quarter valued at $621,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Intuit by 2.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock worth $107,854,000 after purchasing an additional 3,648 shares during the period. Beacon Investment Advisory Services Inc. grew its stake in shares of Intuit by 3.8% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker's stock worth $27,223,000 after purchasing an additional 1,602 shares during the last quarter. Finally, Douglas Lane & Associates LLC increased its holdings in Intuit by 109.9% in the fourth 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 during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at Intuit

In other news, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction dated Monday, March 24th. The shares were 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 owns 21,882 shares in the company, valued at $13,401,849.72. This represents a 27.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,696 shares of company stock valued at $14,347,731 over the last 90 days. Insiders own 2.68% of the company's stock.

Intuit Stock Up 1.2 %

Shares of INTU traded up $7.03 on Friday, reaching $584.50. The company's stock had a trading volume of 619,117 shares, compared to its average volume of 1,564,738. The stock has a market capitalization of $163.41 billion, a PE ratio of 56.43, a PEG ratio of 2.85 and a beta of 1.25. 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 twelve month low of $532.65 and a twelve month high of $714.78. The firm has a fifty day moving average of $591.80 and a 200-day moving average of $617.88.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. Intuit's dividend payout ratio is presently 38.81%.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of analyst reports. Jefferies Financial Group reduced their price target on Intuit from $800.00 to $735.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. BMO Capital Markets lowered their target price on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. StockNews.com cut shares of Intuit from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Morgan Stanley raised Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 price objective for the company in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upgraded Intuit from a "neutral" rating to an "overweight" rating and upped 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, five have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $713.56.

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.