Vanguard Group Inc. Acquires 353,185 Shares of Intuit Inc. (NASDAQ:INTU)

Vanguard Group Inc. lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,035,316 shares of the software maker’s stock after buying an additional 353,185 shares during the quarter. Vanguard Group Inc. owned about 0.10% of Intuit worth $16,991,696,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. R Squared Ltd bought a new stake in Intuit during the 4th quarter worth about $25,000. NewSquare Capital LLC raised its holdings in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in Intuit during the 4th quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit during the 4th quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in Intuit during the 4th quarter worth about $29,000. 83.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Redburn Atlantic assumed coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating for the company. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price target (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Scotiabank reduced their price target on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. Finally, Mizuho increased their price objective on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $721.61.

Insider Transactions at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the sale, the director now directly owns 8 shares of the company’s stock, valued at approximately $4,800. This represents a 99.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the sale, the executive vice president now directly owns 30,010 shares in the company, valued at approximately $18,414,736.20. This trade represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,348 shares of company stock valued at $73,515,245. 2.68% of the stock is owned by corporate insiders.

Intuit Stock Up 0.6 %

INTU stock opened at $604.04 on Friday. 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 stock has a market capitalization of $168.87 billion, a price-to-earnings ratio of 58.64, a PEG ratio of 2.85 and a beta of 1.27. The business’s fifty day moving average price is $596.08 and its two-hundred day moving average price is $622.80. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78.

Intuit Dividend Announcement

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

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.