Intuit Inc. (NASDAQ:INTU) Shares Purchased by Saturna Capital Corp

Saturna Capital Corp raised its stake in Intuit Inc. (NASDAQ:INTU) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 296,073 shares of the software maker’s stock after buying an additional 570 shares during the period. Intuit makes up approximately 2.5% of Saturna Capital Corp’s holdings, making the stock its 11th largest holding. Saturna Capital Corp’s holdings in Intuit were worth $186,082,000 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. Brown Financial Advisors grew its stake in Intuit by 0.9% in the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after acquiring an additional 15 shares during the last quarter. Truvestments Capital LLC grew its position in shares of Intuit by 1.5% in the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after purchasing an additional 16 shares during the last quarter. True North Advisors LLC increased its stake in shares of Intuit by 4.3% during the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock worth $257,000 after purchasing an additional 17 shares in the last quarter. Great Diamond Partners LLC raised its position in shares of Intuit by 2.8% during the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after purchasing an additional 17 shares during the last quarter. Finally, Kovack Advisors Inc. lifted its stake in Intuit by 4.8% in the 3rd quarter. Kovack Advisors Inc. now owns 393 shares of the software maker’s stock valued at $244,000 after buying an additional 18 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on INTU shares. Barclays cut their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Redburn Atlantic began coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research note on Wednesday, February 26th. Scotiabank cut their price objective on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Finally, Oppenheimer raised their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

Intuit Price Performance

Shares of INTU opened at $586.71 on Wednesday. The firm has a market capitalization of $164.02 billion, a price-to-earnings ratio of 56.96, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The stock’s fifty day moving average is $600.43 and its 200-day moving average is $624.29. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders 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 0.71%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio is currently 38.81%.

Insider Activity

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the transaction, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 73,655 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the sale, the insider now owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 213,111 shares of company stock worth $137,327,184 over the last three months. Corporate insiders own 2.68% of the company’s stock.

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.