UNIVEST FINANCIAL Corp Grows Holdings in Intuit Inc. (NASDAQ:INTU)

UNIVEST FINANCIAL Corp raised its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 27.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,889 shares of the software maker's stock after buying an additional 623 shares during the period. UNIVEST FINANCIAL Corp's holdings in Intuit were worth $1,816,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Nordea Investment Management AB grew its holdings in Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock valued at $371,984,000 after purchasing an additional 268,060 shares during the last quarter. Whalen Wealth Management Inc. purchased a new position in Intuit during the 4th quarter valued at about $621,000. Beacon Investment Advisory Services Inc. raised its position in Intuit by 3.8% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker's stock worth $27,223,000 after acquiring an additional 1,602 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in 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 acquiring an additional 3,648 shares during the last quarter. Finally, Douglas Lane & Associates LLC lifted its holdings in shares of 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 in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Trading Up 2.5 %

INTU stock traded up $15.07 during midday trading on Monday, reaching $613.99. 3,070,790 shares of the company's stock traded hands, compared to its average volume of 1,527,563. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The business has a 50-day moving average price of $596.09 and a two-hundred day moving average price of $622.00. The company has a market capitalization of $171.65 billion, a P/E ratio of 59.61, a PEG ratio of 2.85 and a beta of 1.27. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors 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 annualized dividend and a yield of 0.68%. Intuit's dividend payout ratio is currently 38.81%.

Analyst Upgrades and Downgrades

INTU has been the subject of several research reports. Piper Sandler restated an "overweight" rating and set a $785.00 price objective (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Morgan Stanley upgraded Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 price objective on the stock in a research report on Wednesday, February 26th. StockNews.com cut Intuit from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Jefferies Financial Group reduced their target price on shares of Intuit from $800.00 to $735.00 and set a "buy" rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. upgraded shares of Intuit from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $718.00.

Insider Buying and Selling at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the sale, the director now owns 8 shares in the company, valued at $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the transaction, the insider now owns 6,219,900 shares of the company's stock, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 132,896 shares of company stock valued at $82,946,716 over the last three months. 2.68% of the stock is owned by company insiders.

Intuit 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.