iA Global Asset Management Inc. Buys 1,674 Shares of Intuit Inc. (NASDAQ:INTU)

iA Global Asset Management Inc. lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 5.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 30,930 shares of the software maker’s stock after acquiring an additional 1,674 shares during the quarter. iA Global Asset Management Inc.’s holdings in Intuit were worth $19,440,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in INTU. Thrivent Financial for Lutherans lifted its holdings in shares of Intuit by 2.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 14,733 shares of the software maker’s stock worth $9,149,000 after acquiring an additional 388 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of Intuit by 203.7% in the 3rd quarter. Quest Partners LLC now owns 1,652 shares of the software maker’s stock worth $1,026,000 after acquiring an additional 1,108 shares during the last quarter. Prospera Financial Services Inc lifted its holdings in shares of Intuit by 1.8% in the 3rd quarter. Prospera Financial Services Inc now owns 1,008 shares of the software maker’s stock worth $626,000 after acquiring an additional 18 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Intuit by 1.8% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 2,909 shares of the software maker’s stock worth $1,807,000 after acquiring an additional 51 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Intuit by 2.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 127,892 shares of the software maker’s stock worth $79,421,000 after acquiring an additional 2,498 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

INTU has been the topic of several analyst reports. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. Scotiabank decreased their target price on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Barclays decreased their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. Finally, Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price on the stock in a research note on Wednesday, February 26th. One 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

Insider Transactions at Intuit

In related news, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction dated 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 position. The sale 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 dated Friday, February 28th. The stock was 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 in the company, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,646 shares of company stock valued at $72,494,045 in the last three months. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Up 0.7 %

NASDAQ:INTU opened at $603.11 on Thursday. The firm’s 50-day moving average price is $596.98 and its 200-day moving average price is $623.15. The company has a market capitalization of $168.61 billion, a PE ratio of 58.55, a P/E/G 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 Inc. has a 1-year low of $553.24 and a 1-year high of $714.78.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is presently 38.81%.

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.