Dimensional Fund Advisors LP Grows Position in Intuit Inc. (NASDAQ:INTU)

Dimensional Fund Advisors LP grew its position in Intuit Inc. (NASDAQ:INTU) by 2.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 569,987 shares of the software maker’s stock after acquiring an additional 14,842 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Intuit were worth $358,245,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Nordea Investment Management AB grew its position in Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares during the last quarter. Whalen Wealth Management Inc. purchased a new stake in Intuit during the 4th quarter valued at approximately $621,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Intuit by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock worth $107,854,000 after acquiring an additional 3,648 shares during the period. Beacon Investment Advisory Services Inc. increased its holdings in shares of Intuit by 3.8% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker’s stock valued at $27,223,000 after purchasing an additional 1,602 shares during the period. Finally, Douglas Lane & Associates LLC raised its stake in shares of Intuit by 109.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker’s stock worth $15,502,000 after purchasing an additional 12,916 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Laura A. Fennell sold 8,163 shares of Intuit 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 owns 21,882 shares in the company, valued at approximately $13,401,849.72. This trade represents a 27.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now directly owns 8 shares of the company’s stock, valued at $4,800. The trade was a 99.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,696 shares of company stock valued at $14,347,731. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Down 0.5 %

INTU stock opened at $585.38 on Monday. 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 12 month low of $532.65 and a 12 month high of $714.78. The firm has a market capitalization 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’s 50 day simple moving average is $592.03 and its 200-day simple moving average is $616.64.

Intuit Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on INTU. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Morgan Stanley reduced their price objective on shares of Intuit from $730.00 to $720.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Mizuho boosted their target price on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.