Richard W. Paul & Associates LLC Raises Stock Position in Intuit Inc. (NASDAQ:INTU)

Richard W. Paul & Associates LLC grew its position in Intuit Inc. (NASDAQ:INTU) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,346 shares of the software maker’s stock after purchasing an additional 28 shares during the period. Richard W. Paul & Associates LLC’s holdings in Intuit were worth $846,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in INTU. Mutual Advisors LLC raised its position in Intuit by 21.5% in the third quarter. Mutual Advisors LLC now owns 2,690 shares of the software maker’s stock valued at $1,625,000 after purchasing an additional 476 shares during the period. Pinnacle Associates Ltd. raised its holdings in Intuit by 1.7% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,328 shares of the software maker’s stock valued at $830,000 after buying an additional 22 shares during the period. Cornerstone Wealth Group LLC lifted its position in Intuit by 2.7% in the third quarter. Cornerstone Wealth Group LLC now owns 686 shares of the software maker’s stock valued at $426,000 after buying an additional 18 shares during the last quarter. Financial Advocates Investment Management boosted its stake in Intuit by 7.4% during the third quarter. Financial Advocates Investment Management now owns 1,220 shares of the software maker’s stock worth $758,000 after buying an additional 84 shares during the period. Finally, United Asset Strategies Inc. increased its position in shares of Intuit by 6.5% during the third quarter. United Asset Strategies Inc. now owns 1,793 shares of the software maker’s stock valued at $1,113,000 after acquiring an additional 109 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

Shares of INTU opened at $613.84 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The firm has a 50-day simple moving average of $605.90 and a 200-day simple moving average of $627.25. The company has a market capitalization of $171.82 billion, a price-to-earnings ratio of 59.60, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Intuit Dividend Announcement

The business also recently announced 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 of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

Insider Activity

In other news, insider Scott D. Cook sold 73,655 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the completion of the sale, the insider now owns 6,301,286 shares in the company, valued at approximately $4,189,977,112.84. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the business’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 in the company, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 218,014 shares of company stock valued at $140,855,687. Company insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the topic of several recent analyst reports. Oppenheimer upped their price objective on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Redburn Atlantic started coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Piper Sandler reissued an “overweight” rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a research note on Wednesday. Finally, Barclays dropped their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $717.88.

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.