Intuit Inc. (NASDAQ:INTU) Position Increased by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 13.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,834 shares of the software maker’s stock after acquiring an additional 329 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Intuit were worth $1,781,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Naviter Wealth LLC increased its position in Intuit by 19.0% during the fourth quarter. Naviter Wealth LLC now owns 3,414 shares of the software maker’s stock worth $2,146,000 after buying an additional 544 shares during the last quarter. Rialto Wealth Management LLC acquired a new position in Intuit during the fourth quarter worth $41,000. Lifeworks Advisors LLC acquired a new position in Intuit during the fourth quarter worth $202,000. HM Payson & Co. increased its position in Intuit by 0.5% during the fourth quarter. HM Payson & Co. now owns 10,861 shares of the software maker’s stock worth $6,826,000 after buying an additional 53 shares during the last quarter. Finally, AMF Tjanstepension AB increased its position in Intuit by 35.4% during the fourth quarter. AMF Tjanstepension AB now owns 34,184 shares of the software maker’s stock worth $21,489,000 after buying an additional 8,937 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 7,700 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the completion of the transaction, the executive vice president now owns 33,916 shares in the company, valued at $22,304,518.24. This trade represents a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 489 shares of the company’s stock, valued at approximately $325,664.22. This represents a 97.99 % 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 quarter. Company insiders own 2.68% of the company’s stock.

Intuit Stock Up 0.5 %

Shares of INTU opened at $609.61 on Friday. The stock has a market cap of $170.42 billion, a price-to-earnings ratio of 59.19, 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 Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. The company has a 50-day moving average price of $602.28 and a two-hundred day moving average price of $625.44.

Intuit Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised shares of 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 research report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Citigroup lowered their price target on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. BMO Capital Markets lowered their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.