Ethic Inc. Has $16.97 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Ethic Inc. boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 15.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 27,004 shares of the software maker’s stock after purchasing an additional 3,557 shares during the quarter. Ethic Inc.’s holdings in Intuit were worth $16,972,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. R Squared Ltd bought a new position in Intuit during the 4th quarter worth about $25,000. NewSquare Capital LLC grew its stake in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in Intuit in the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Finally, Summit Securities Group LLC acquired a new position in Intuit during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were 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 directly owns 8 shares of the company’s stock, valued at approximately $4,800. This represents a 99.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of Intuit 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 transaction, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,696 shares of company stock valued at $14,347,731 in the last 90 days. Company insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Oppenheimer reduced their target price on Intuit from $722.00 to $642.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. 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. Hsbc Global Res upgraded shares of Intuit from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Jefferies Financial Group lowered their price target on Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, BMO Capital Markets reduced their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average price target of $717.53.

Intuit Stock Up 2.3 %

NASDAQ INTU opened at $655.94 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The business has a fifty day moving average price of $601.25 and a 200 day moving average price of $617.11. The company has a market cap of $183.37 billion, a P/E ratio of 63.68, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit Inc. has a one year low of $532.65 and a one year high of $714.78.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were issued a $1.04 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.63%. Intuit’s dividend payout ratio is presently 38.81%.

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.