Rhumbline Advisers increased its holdings in shares of Intuit Inc. (NASDAQ:INTU – Get Rating) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 463,359 shares of the software maker’s stock after buying an additional 23,786 shares during the quarter. Rhumbline Advisers owned 0.16% of Intuit worth $298,042,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. L2 Asset Management LLC bought a new position in Intuit during the 4th quarter worth about $245,000. Meristem Family Wealth LLC increased its holdings in Intuit by 32.8% during the 4th quarter. Meristem Family Wealth LLC now owns 13,902 shares of the software maker’s stock worth $8,942,000 after purchasing an additional 3,434 shares in the last quarter. Monograph Wealth Advisors LLC bought a new position in Intuit during the 4th quarter worth about $4,921,000. Lumature Wealth Partners LLC increased its holdings in Intuit by 3.4% during the 4th quarter. Lumature Wealth Partners LLC now owns 1,861 shares of the software maker’s stock worth $1,197,000 after purchasing an additional 62 shares in the last quarter. Finally, Confluence Wealth Services Inc. bought a new position in Intuit during the 4th quarter worth about $105,000. 83.42% of the stock is currently owned by institutional investors and hedge funds.
Intuit stock traded up $17.87 during midday trading on Friday, reaching $371.76. 1,893,305 shares of the company’s stock were exchanged, compared to its average volume of 1,759,279. The stock’s 50-day simple moving average is $450.35 and its 200 day simple moving average is $540.44. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market cap of $105.14 billion, a price-to-earnings ratio of 47.42, a P/E/G ratio of 2.84 and a beta of 1.16. Intuit Inc. has a 52 week low of $339.36 and a 52 week high of $716.86.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 18th. Shareholders of record on Monday, April 11th were given a dividend of $0.68 per share. The ex-dividend date was Friday, April 8th. This represents a $2.72 annualized dividend and a yield of 0.73%. Intuit’s dividend payout ratio (DPR) is presently 34.69%.
In other news, EVP Laura A. Fennell sold 59,286 shares of Intuit stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of $475.03, for a total value of $28,162,628.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James Alexander Chriss sold 368 shares of Intuit stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $478.84, for a total transaction of $176,213.12. The disclosure for this sale can be found here. Company insiders own 3.27% of the company’s stock.
A number of research firms have issued reports on INTU. The Goldman Sachs Group lowered their target price on Intuit from $715.00 to $615.00 and set a “buy” rating for the company in a report on Thursday, April 14th. Stifel Nicolaus decreased their price objective on Intuit from $600.00 to $580.00 and set a “buy” rating for the company in a report on Monday, March 21st. JPMorgan Chase & Co. decreased their price objective on Intuit from $750.00 to $640.00 and set an “overweight” rating for the company in a report on Friday, February 25th. Wells Fargo & Company decreased their price objective on Intuit from $725.00 to $635.00 and set an “overweight” rating for the company in a report on Monday, April 25th. Finally, BMO Capital Markets decreased their price objective on Intuit from $600.00 to $550.00 in a report on Monday, May 2nd. Three analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $611.45.
About Intuit (Get Rating)
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 ProConnect.
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