Richard W. Paul & Associates LLC Raises Holdings in Intuit Inc. (NASDAQ:INTU)

Richard W. Paul & Associates LLC lifted its stake in Intuit Inc. (NASDAQ:INTU) by 2.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,346 shares of the software maker’s stock after purchasing an additional 28 shares during the quarter. Richard W. Paul & Associates LLC’s holdings in Intuit were worth $846,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of INTU. Proficio Capital Partners LLC lifted its stake in shares of Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after buying an additional 1,062,847 shares during the period. Holocene Advisors LP raised its stake in Intuit by 99.6% in the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after acquiring an additional 312,212 shares during the last quarter. Nordea Investment Management AB lifted its position in Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares during the period. State Street Corp grew its stake in Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after purchasing an additional 221,885 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Intuit in the fourth quarter valued at about $104,278,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on INTU. JPMorgan Chase & Co. lifted their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 price objective (up from $765.00) on shares of Intuit in a report on Wednesday. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a report on Wednesday, January 15th. Oppenheimer boosted their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Finally, BMO Capital Markets cut their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $717.88.

Intuit Stock Up 2.2 %

INTU stock opened at $613.84 on Friday. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a 50-day simple moving average of $605.90 and a 200-day simple moving average of $627.25. The stock has a market capitalization of $171.82 billion, a P/E ratio of 59.60, a P/E/G ratio of 2.85 and a beta of 1.24.

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 issued a dividend of $1.04 per share. 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 0.68%. Intuit’s payout ratio is currently 38.81%.

Insider Activity

In other Intuit news, CFO Sandeep Aujla sold 109 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the sale, the chief financial officer now owns 1,944 shares in the company, valued at approximately $1,221,804. This represents a 5.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 218,014 shares of company stock worth $140,855,687 over the last quarter. 2.68% of the stock is currently owned by corporate insiders.

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.