Saturna Capital Corp Raises Holdings in Intuit Inc. (NASDAQ:INTU)

Saturna Capital Corp increased its holdings in Intuit Inc. (NASDAQ:INTU) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 296,073 shares of the software maker’s stock after acquiring an additional 570 shares during the quarter. Intuit makes up about 2.5% of Saturna Capital Corp’s investment portfolio, making the stock its 11th largest position. Saturna Capital Corp owned approximately 0.11% of Intuit worth $186,082,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. HighTower Advisors LLC increased its holdings in shares of Intuit by 7.1% in the 4th quarter. HighTower Advisors LLC now owns 62,319 shares of the software maker’s stock valued at $39,167,000 after acquiring an additional 4,144 shares during the period. Moors & Cabot Inc. raised its stake in shares of Intuit by 10.0% during the 4th quarter. Moors & Cabot Inc. now owns 723 shares of the software maker’s stock worth $455,000 after acquiring an additional 66 shares in the last quarter. Natural Investments LLC purchased a new position in Intuit in the fourth quarter worth $577,000. Avantax Planning Partners Inc. lifted its holdings in shares of Intuit by 20.0% during the 4th quarter. Avantax Planning Partners Inc. now owns 1,012 shares of the software maker’s stock valued at $636,000 after purchasing an additional 169 shares during the last quarter. Finally, Donaldson Capital Management LLC increased its position in Intuit by 1.6% during the 4th quarter. Donaldson Capital Management LLC now owns 10,779 shares of the software maker’s stock valued at $6,774,000 after buying an additional 169 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Performance

Shares of Intuit stock opened at $586.71 on Wednesday. The stock has a market capitalization of $164.02 billion, a price-to-earnings ratio of 56.96, a PEG ratio of 2.85 and a beta of 1.27. The firm’s fifty day simple moving average is $600.43 and its 200-day simple moving average is $624.29. 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 $553.24 and a 12 month high of $714.78.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.71%. Intuit’s dividend payout ratio (DPR) is 38.81%.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now directly owns 489 shares of the company’s stock, valued at $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 73,655 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the transaction, the insider now owns 6,301,286 shares of the company’s stock, valued at approximately $4,189,977,112.84. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 213,111 shares of company stock worth $137,327,184 in the last quarter. Company insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

INTU has been the subject of a number of research analyst reports. Redburn Atlantic began coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. Oppenheimer upped their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. BMO Capital Markets lowered their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Barclays cut their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. 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 company’s stock. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average target price of $721.61.

About Intuit

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.