Cibc World Markets Corp Has $71.93 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Cibc World Markets Corp raised its holdings in Intuit Inc. (NASDAQ:INTU) by 159.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 114,440 shares of the software maker’s stock after buying an additional 70,350 shares during the quarter. Cibc World Markets Corp’s holdings in Intuit were worth $71,926,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. IMG Wealth Management Inc. acquired a new position in Intuit in the fourth quarter valued at approximately $129,000. Signature Wealth Management Group raised its position in shares of Intuit by 6.4% during the fourth quarter. Signature Wealth Management Group now owns 3,063 shares of the software maker’s stock worth $1,925,000 after purchasing an additional 184 shares during the period. GWN Securities Inc. acquired a new position in shares of Intuit during the fourth quarter worth approximately $257,000. Glenview Trust co raised its position in shares of Intuit by 118.1% during the fourth quarter. Glenview Trust co now owns 2,452 shares of the software maker’s stock worth $1,541,000 after purchasing an additional 1,328 shares during the period. Finally, Avalon Trust Co raised its position in shares of Intuit by 12.7% during the fourth quarter. Avalon Trust Co now owns 177 shares of the software maker’s stock worth $111,000 after purchasing an additional 20 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on INTU. Barclays lowered their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Scotiabank lowered their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Finally, Mizuho upped their price target on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Stock Up 3.0 %

Shares of NASDAQ:INTU opened at $598.80 on Monday. The company has a market capitalization of $167.40 billion, a PE ratio of 58.14, a price-to-earnings-growth 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 business has a fifty day moving average price of $598.23 and a two-hundred day moving average price of $623.66. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date 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 presently 38.81%.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction on Friday, February 28th. The stock was 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 owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,301 shares of company stock worth $121,470,200 in the last quarter. 2.68% of the stock is currently owned by company insiders.

Intuit 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.