Bank Julius Baer & Co. Ltd Zurich Buys 9,514 Shares of Intuit Inc. (NASDAQ:INTU)

Bank Julius Baer & Co. Ltd Zurich boosted its stake in Intuit Inc. (NASDAQ:INTU) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 260,389 shares of the software maker’s stock after purchasing an additional 9,514 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Intuit were worth $176,650,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Brown Financial Advisors increased its stake in shares of Intuit by 0.9% in the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after acquiring an additional 15 shares during the last quarter. Truvestments Capital LLC grew its holdings in Intuit by 1.5% during the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after purchasing an additional 16 shares during the period. True North Advisors LLC increased its stake in Intuit by 4.3% in the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after purchasing an additional 17 shares in the last quarter. Great Diamond Partners LLC raised its holdings in Intuit by 2.8% in the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after purchasing an additional 17 shares during the period. Finally, Kovack Advisors Inc. boosted its position in shares of Intuit by 4.8% during the third quarter. Kovack Advisors Inc. now owns 393 shares of the software maker’s stock worth $244,000 after purchasing an additional 18 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the sale, the executive vice president now owns 489 shares in the company, valued at $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction dated 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 directly owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 220,811 shares of company stock worth $142,391,012 over the last ninety days. 2.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on INTU shares. Piper Sandler restated an “overweight” rating and issued a $785.00 price objective (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Oppenheimer increased their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Barclays cut their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. BMO Capital Markets lowered their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Finally, Redburn Atlantic initiated coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $721.61.

Intuit Trading Up 0.5 %

Shares of NASDAQ:INTU opened at $609.61 on Friday. The company’s 50-day moving average price is $602.28 and its two-hundred day moving average price is $625.73. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $170.42 billion, a PE ratio of 59.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

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.