Fayez Sarofim & Co Increases Stock Position in Intuit Inc. (NASDAQ:INTU)

Fayez Sarofim & Co increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 8.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 893,017 shares of the software maker’s stock after acquiring an additional 66,151 shares during the period. Intuit accounts for about 1.4% of Fayez Sarofim & Co’s holdings, making the stock its 24th largest position. Fayez Sarofim & Co’s holdings in Intuit were worth $565,967,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. R Squared Ltd purchased a new position in shares of Intuit in the 4th quarter valued at about $25,000. NewSquare Capital LLC increased its position in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in Intuit during the fourth quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit during the fourth quarter worth approximately $28,000. Finally, Summit Securities Group LLC purchased a new position in Intuit in the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Trading Down 0.5 %

Shares of INTU opened at $585.38 on Monday. The stock has a market cap of $163.65 billion, a PE ratio of 56.83, a P/E/G ratio of 2.85 and a beta of 1.25. 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 Inc. has a twelve month low of $532.65 and a twelve month high of $714.78. The business’s 50-day moving average price is $592.03 and its 200-day moving average price is $616.64.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.71%. Intuit’s dividend payout ratio is currently 38.81%.

Insider Transactions at Intuit

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the sale, the executive vice president now directly owns 21,882 shares in the company, valued at $13,401,849.72. The trade was a 27.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares of the company’s stock, valued at $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on INTU. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. Piper Sandler reiterated an “overweight” rating and set a $785.00 price objective (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Citigroup decreased 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. Jefferies Financial Group cut their price target on Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a report on Monday, March 31st. Finally, StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average target price of $718.56.

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.