Whittier Trust Co. of Nevada Inc. increased its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 4.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,539 shares of the software maker's stock after purchasing an additional 630 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in Intuit were worth $9,766,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd bought a new position in Intuit in the 4th quarter valued at about $25,000. NewSquare Capital LLC boosted its position in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC bought a new position in Intuit in the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Intuit during the fourth quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Intuit during the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 83.66% of the company's stock.
Insider Activity at Intuit
In related news, CEO Sasan K. Goodarzi sold 75,000 shares of the business'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 owns 35,776 shares in the company, valued at $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $1,021,200.00. Following the sale, the director now directly owns 8 shares in the company, valued at $4,800. This trade represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,733 shares of company stock worth $77,947,205 over the last ninety days. Insiders own 2.68% of the company's stock.
Intuit Trading Up 0.9 %
NASDAQ:INTU traded up $5.63 during trading hours on Tuesday, hitting $618.72. 1,126,525 shares of the company were exchanged, compared to its average volume of 1,439,323. The company has a fifty day simple moving average of $596.08 and a 200 day simple moving average of $622.74. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78. The stock has a market capitalization of $172.97 billion, a price-to-earnings ratio of 60.07, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. 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 Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit's dividend payout ratio is currently 38.81%.
Wall Street Analysts Forecast Growth
INTU has been the topic of several recent analyst reports. StockNews.com lowered Intuit from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. BMO Capital Markets reduced their price objective on Intuit from $760.00 to $714.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley raised Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 target price for the company in a research note on Wednesday, February 26th. Redburn Atlantic began coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a "neutral" rating on the stock. Finally, Citigroup lowered their price objective on shares of Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $721.61.
Get Our Latest Analysis on Intuit
About Intuit
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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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