Plancorp LLC Buys 19 Shares of Intuit Inc. (NASDAQ:INTU)

Plancorp LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 889 shares of the software maker’s stock after purchasing an additional 19 shares during the period. Plancorp LLC’s holdings in Intuit were worth $559,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Nordea Investment Management AB boosted its stake in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. purchased a new position in Intuit during the 4th quarter valued at about $621,000. Beacon Investment Advisory Services Inc. lifted its position in Intuit by 3.8% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker’s stock valued at $27,223,000 after acquiring an additional 1,602 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Intuit by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock valued at $107,854,000 after acquiring an additional 3,648 shares during the period. Finally, Douglas Lane & Associates LLC lifted its position in Intuit by 109.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker’s stock valued at $15,502,000 after acquiring an additional 12,916 shares during the period. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $604.04 on Friday. The company has a 50 day moving average price of $596.08 and a 200-day moving average price of $622.80. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The firm has a market capitalization of $168.87 billion, a PE ratio of 58.64, 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s dividend payout ratio (DPR) is 38.81%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Piper Sandler reissued 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. Scotiabank lowered their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

Insider Activity at Intuit

In related news, EVP Mark P. Notarainni sold 363 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $228,145.50. Following the completion of the sale, the executive vice president now directly owns 19 shares in the company, valued at approximately $11,941.50. The trade was a 95.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the sale, the chief executive officer now owns 35,776 shares of the company’s stock, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 117,348 shares of company stock worth $73,515,245. 2.68% of the stock is 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.