Intuit Inc. (NASDAQ:INTU) Shares Purchased by Zions Bancorporation N.A.

Zions Bancorporation N.A. boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 40.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,099 shares of the software maker’s stock after purchasing an additional 2,338 shares during the period. Zions Bancorporation N.A.’s holdings in Intuit were worth $5,090,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in INTU. R Squared Ltd acquired a new position in shares of Intuit during the 4th quarter worth about $25,000. NewSquare Capital LLC increased its stake 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 buying an additional 18 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Intuit during the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit in the fourth quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Intuit in the fourth quarter worth approximately $29,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Trading Up 1.5 %

Shares of INTU stock opened at $613.09 on Tuesday. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78. The firm has a market cap of $171.40 billion, a PE ratio of 59.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The company has a 50-day moving average of $596.08 and a two-hundred day moving average of $622.74. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s payout ratio is currently 38.81%.

Insider Activity at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05. Following the completion of the transaction, the executive vice president now directly owns 40,190 shares of the company’s stock, valued at approximately $24,119,224.70. This represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,733 shares of company stock worth $77,947,205. Insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on INTU. Piper Sandler restated an “overweight” rating and issued a $785.00 price objective (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Redburn Atlantic assumed coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Mizuho raised their target price on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Citigroup dropped their price target on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $721.61.

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.