Russell Investments Group Ltd. Has $220.66 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Russell Investments Group Ltd. boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 5.2% during the 4th quarter, HoldingsChannel reports. The fund owned 350,944 shares of the software maker’s stock after buying an additional 17,367 shares during the quarter. Russell Investments Group Ltd.’s holdings in Intuit were worth $220,658,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of INTU. R Squared Ltd bought a new stake in Intuit in the 4th quarter valued at $25,000. NewSquare Capital LLC increased its stake in 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 during the period. Summit Securities Group LLC bought a new stake in Intuit in the fourth quarter valued at about $28,000. Heck Capital Advisors LLC acquired a new position in Intuit in the fourth quarter worth about $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit during the fourth quarter worth about $28,000. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INTU. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. Jefferies Financial Group dropped their price objective on Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a research note on Monday, March 31st. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Redburn Atlantic initiated coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Finally, BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research report on Wednesday, January 15th. 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 stock. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $718.00.

Insider Transactions at Intuit

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the stock in a transaction on 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 sale, the director now directly owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the transaction, the executive vice president now directly owns 21,882 shares in the company, valued at approximately $13,401,849.72. This represents a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,862 shares of company stock worth $18,767,673 in the last three months. Insiders own 2.68% of the company’s stock.

Intuit Trading Down 6.2 %

Shares of NASDAQ INTU opened at $561.53 on Friday. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The firm has a market capitalization of $156.98 billion, a P/E ratio of 54.52, a P/E/G ratio of 2.85 and a beta of 1.27. 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 company’s 50 day simple moving average is $595.64 and its 200 day simple moving average is $620.96.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is currently 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.