Intuit Inc. (NASDAQ:INTU) Stock Position Boosted by Vanguard Group Inc.

Vanguard Group Inc. boosted its stake in Intuit Inc. (NASDAQ:INTU) by 1.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,035,316 shares of the software maker’s stock after buying an additional 353,185 shares during the period. Vanguard Group Inc. owned 9.66% of Intuit worth $16,991,696,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LPL Financial LLC lifted its stake in Intuit by 4.4% during the fourth quarter. LPL Financial LLC now owns 203,766 shares of the software maker’s stock valued at $127,887,000 after buying an additional 8,591 shares in the last quarter. Blueprint Investment Partners LLC lifted its stake in Intuit by 112.0% during the fourth quarter. Blueprint Investment Partners LLC now owns 1,270 shares of the software maker’s stock valued at $798,000 after buying an additional 671 shares in the last quarter. Guardian Partners Inc. purchased a new stake in Intuit during the fourth quarter valued at about $2,961,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Intuit in the fourth quarter worth approximately $69,364,000. Finally, AXQ Capital LP purchased a new stake in shares of Intuit in the fourth quarter worth approximately $581,000. Institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mark P. Notarainni sold 363 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $228,145.50. Following the sale, the executive vice president now owns 19 shares in the company, valued at approximately $11,941.50. The trade was a 95.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 6,219,900 shares in the company, valued at $3,758,436,774. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 117,348 shares of company stock worth $73,515,245 over the last 90 days. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Up 0.6 %

INTU opened at $604.04 on Friday. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm’s fifty day moving average price is $596.08 and its two-hundred day moving average price is $622.80. The company has a market capitalization of $168.87 billion, a P/E ratio of 58.64, a P/E/G ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid 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 yield of 0.69%. Intuit’s dividend payout ratio is currently 38.81%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Mizuho increased their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Citigroup dropped their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective on the stock in a report on Wednesday, February 26th. Redburn Atlantic started coverage on Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Finally, StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

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.