Primecap Management Co. CA Has $905.59 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Primecap Management Co. CA lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 12.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,440,875 shares of the software maker’s stock after selling 206,161 shares during the quarter. Primecap Management Co. CA’s holdings in Intuit were worth $905,590,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTU. R Squared Ltd acquired a new stake in Intuit in the 4th quarter valued at approximately $25,000. NewSquare Capital LLC grew its holdings in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Intuit during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on INTU shares. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Piper Sandler reissued an “overweight” rating and set a $785.00 price objective (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Scotiabank decreased their price objective on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Finally, BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

Intuit Trading Up 0.6 %

INTU stock opened at $602.11 on Tuesday. The company has a market cap of $168.33 billion, a P/E ratio of 58.46, a PEG ratio of 2.85 and a beta of 1.27. Intuit Inc. has a twelve month low of $553.24 and a twelve month 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. The business has a fifty day moving average of $597.76 and a 200-day moving average of $623.51.

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 given a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s payout ratio is currently 38.81%.

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 stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now owns 35,776 shares in the company, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the sale, the insider now owns 6,219,900 shares of the company’s stock, 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 sold a total of 189,301 shares of company stock worth $121,470,200 over the last 90 days. 2.68% of the stock is owned by insiders.

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.