Intuit Inc. (NASDAQ:INTU) Shares Purchased by Baxter Bros Inc.

Baxter Bros Inc. grew its stake in Intuit Inc. (NASDAQ:INTU) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,270 shares of the software maker’s stock after purchasing an additional 649 shares during the period. Intuit makes up approximately 5.0% of Baxter Bros Inc.’s portfolio, making the stock its 3rd biggest holding. Baxter Bros Inc.’s holdings in Intuit were worth $37,880,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in INTU. Brown Financial Advisors raised its position in Intuit by 0.9% in the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after acquiring an additional 15 shares in the last quarter. Truvestments Capital LLC raised its holdings in Intuit by 1.5% during the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after purchasing an additional 16 shares during the last quarter. True North Advisors LLC grew its holdings in Intuit by 4.3% in the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after purchasing an additional 17 shares during the last quarter. Great Diamond Partners LLC raised its stake in shares of Intuit by 2.8% during the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after buying an additional 17 shares during the last quarter. Finally, RB Capital Management LLC increased its holdings in Intuit by 0.6% during the 3rd quarter. RB Capital Management LLC now owns 3,169 shares of the software maker’s stock valued at $1,968,000 after acquiring an additional 18 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on INTU shares. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a report on Wednesday, January 15th. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. BMO Capital Markets lowered their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Finally, StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

Insider Buying and Selling at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the sale, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,733 shares of company stock worth $77,947,205. 2.68% of the stock is currently owned by company insiders.

Intuit Trading Up 1.5 %

Shares of NASDAQ INTU opened at $613.09 on Tuesday. The business has a fifty day simple moving average of $596.08 and a 200-day simple moving average of $622.74. The company has a market cap of $171.40 billion, a price-to-earnings ratio of 59.52, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. 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 company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Intuit Company 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.