True North Advisors LLC Boosts Stock Position in Intuit Inc. (NASDAQ:INTU)

True North Advisors LLC boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 409 shares of the software maker’s stock after acquiring an additional 17 shares during the quarter. True North Advisors LLC’s holdings in Intuit were worth $257,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of INTU. International Assets Investment Management LLC boosted its stake in shares of Intuit by 68,404.7% in the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after purchasing an additional 483,621 shares during the period. Holocene Advisors LP lifted its holdings in Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after buying an additional 312,212 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after acquiring an additional 238,486 shares during the period. Finally, State Street Corp raised its stake in shares of Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after acquiring an additional 221,885 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares of the company’s stock, valued at $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 293,014 shares of company stock valued at $188,992,187. Company insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on INTU shares. Barclays cut their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research note on Thursday. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Finally, Scotiabank began coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Stock Performance

Shares of Intuit stock opened at $598.30 on Friday. The stock has a market capitalization of $167.48 billion, a price-to-earnings ratio of 58.09, a PEG ratio of 3.00 and a beta of 1.25. The firm’s fifty day simple moving average is $640.53 and its 200-day simple moving average is $635.79. 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 $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the company earned $1.14 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a $1.04 dividend. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.70%. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

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.