Okabena Investment Services Inc. Has $1.17 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Okabena Investment Services Inc. lowered its position in Intuit Inc. (NASDAQ:INTU) by 27.3% during the fourth quarter, Holdings Channel reports. The firm owned 1,865 shares of the software maker’s stock after selling 700 shares during the period. Okabena Investment Services Inc.’s holdings in Intuit were worth $1,172,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB lifted its holdings in Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after buying an additional 268,060 shares during the period. Whalen Wealth Management Inc. acquired a new position in shares of Intuit in the 4th quarter valued at about $621,000. Beacon Investment Advisory Services Inc. boosted its position in shares of Intuit by 3.8% during the 4th 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Intuit by 2.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock worth $107,854,000 after purchasing an additional 3,648 shares during the period. Finally, Douglas Lane & Associates LLC increased its holdings in Intuit by 109.9% in 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 in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on INTU shares. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a research report on Wednesday, February 26th. Scotiabank reduced their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Mizuho upped their price objective on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research note on Wednesday, January 15th. Finally, Citigroup dropped their price target on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Price Performance

Intuit stock opened at $598.92 on Friday. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The company’s 50 day moving average price is $595.90 and its two-hundred day moving average price is $622.46. The stock has a market cap of $167.44 billion, a P/E ratio of 58.15, a P/E/G ratio of 2.85 and a beta of 1.27. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. The trade was a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 132,896 shares of company stock valued at $82,946,716. Insiders own 2.68% of the company’s stock.

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.