Banco Santander S.A. Increases Stock Position in Intuit Inc. (NASDAQ:INTU)

Banco Santander S.A. raised its position in Intuit Inc. (NASDAQ:INTU) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,144 shares of the software maker’s stock after acquiring an additional 204 shares during the quarter. Banco Santander S.A.’s holdings in Intuit were worth $2,605,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its position 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. Geode Capital Management LLC increased its stake in shares of Intuit by 1.4% during the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after buying an additional 80,463 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Intuit by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after acquiring an additional 107,482 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Intuit by 3.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker’s stock worth $1,499,744,000 after acquiring an additional 88,487 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Intuit by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock valued at $1,428,790,000 after acquiring an additional 87,517 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,811 shares of company stock worth $142,391,012. 2.68% of the stock is owned by corporate insiders.

Intuit Stock Performance

INTU stock opened at $609.61 on Friday. The stock’s 50 day simple moving average is $602.28 and its 200 day simple moving average is $625.44. 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 12-month low of $553.24 and a 12-month high of $714.78. The stock has a market capitalization of $170.42 billion, a PE ratio of 59.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Analyst Upgrades and Downgrades

INTU has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. 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 report on Wednesday, February 26th. BMO Capital Markets reduced their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Barclays lowered their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, Redburn Atlantic initiated coverage on Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $721.61.

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.