Intuit Inc. (NASDAQ:INTU) is Baxter Bros Inc.’s 3rd Largest Position

Baxter Bros Inc. boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,270 shares of the software maker’s stock after acquiring an additional 649 shares during the quarter. Intuit accounts for about 5.0% of Baxter Bros Inc.’s investment portfolio, making the stock its 3rd largest holding. Baxter Bros Inc.’s holdings in Intuit were worth $37,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of INTU. Proficio Capital Partners LLC grew its holdings in shares of Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after acquiring an additional 1,062,847 shares during the period. Raymond James Financial Inc. purchased a new stake in Intuit in the fourth quarter worth $300,854,000. Vanguard Group Inc. raised its holdings in Intuit by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock worth $16,991,696,000 after purchasing an additional 353,185 shares in the last quarter. Holocene Advisors LP lifted its position in Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after buying an additional 312,212 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after buying an additional 268,060 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Intuit news, EVP Marianna Tessel sold 7,385 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the completion of the sale, the executive vice president now owns 40,190 shares of the company’s stock, valued at $24,119,224.70. This trade represents a 15.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $47,257,500.00. Following the completion of the transaction, the chief executive officer now owns 35,776 shares of the company’s stock, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 124,733 shares of company stock worth $77,947,205 over the last three months. 2.68% of the stock is currently owned by corporate insiders.

Intuit Price Performance

Shares of NASDAQ INTU opened at $613.09 on Tuesday. The firm has a market cap of $171.40 billion, a P/E ratio of 59.52, a P/E/G ratio of 2.85 and a beta of 1.27. The business’s 50 day moving average price is $596.08 and its 200 day moving average price is $622.74. 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.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, April 10th. Intuit’s payout ratio is currently 38.81%.

Analyst Ratings Changes

A number of research analysts recently issued reports on INTU shares. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Morgan Stanley raised 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. Redburn Atlantic assumed coverage on Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. Mizuho lifted their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 target price (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.