Charles Schwab Investment Management Inc. Buys 70,726 Shares of Intuit Inc. (NASDAQ:INTU)

Charles Schwab Investment Management Inc. raised its stake in Intuit Inc. (NASDAQ:INTU) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,759,171 shares of the software maker’s stock after buying an additional 70,726 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.63% of Intuit worth $1,105,639,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. R Squared Ltd bought a new position in Intuit in the fourth quarter valued at approximately $25,000. Heck Capital Advisors LLC bought a new stake in shares of Intuit in the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit in the fourth quarter worth $28,000. Sugar Maple Asset Management LLC bought a new stake in shares of Intuit in the fourth quarter worth $29,000. Finally, Denver PWM LLC bought a new stake in shares of Intuit in the third quarter worth $32,000. Institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark P. Notarainni sold 3,649 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the completion of the transaction, the executive vice president now owns 19 shares in the company, valued at $12,286.92. This trade represents a 99.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 224,460 shares of company stock worth $144,750,747. Corporate insiders own 2.68% of the company’s stock.

Intuit Price Performance

NASDAQ:INTU opened at $601.09 on Tuesday. 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 firm’s fifty day moving average price is $605.15 and its two-hundred day moving average price is $626.69. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78. The company has a market cap of $168.04 billion, a P/E ratio of 58.36, a P/E/G ratio of 2.85 and a beta of 1.24.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors 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 annualized dividend and a dividend yield of 0.69%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of research reports. Redburn Atlantic initiated coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. 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. JPMorgan Chase & Co. upped their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Stifel Nicolaus dropped their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price target (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average target price of $720.50.

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.