Intuit Inc. (NASDAQ:INTU) Shares Purchased by Avalon Trust Co

Avalon Trust Co boosted its position in Intuit Inc. (NASDAQ:INTU) by 12.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 177 shares of the software maker’s stock after purchasing an additional 20 shares during the period. Avalon Trust Co’s holdings in Intuit were worth $111,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in INTU. State Street Corp lifted its position in shares of Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after acquiring an additional 221,885 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Intuit by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after acquiring an additional 80,463 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Intuit by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after acquiring an additional 107,482 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Intuit by 3.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker’s stock valued at $1,499,744,000 after acquiring an additional 88,487 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Intuit by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock valued at $1,428,790,000 after acquiring an additional 87,517 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Trading Up 3.0 %

Intuit stock opened at $598.80 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 company has a market capitalization of $167.40 billion, a price-to-earnings ratio of 58.14, a PEG ratio of 2.85 and a beta of 1.27. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78. The company’s fifty day moving average price is $598.23 and its two-hundred day moving average price is $623.61.

Intuit Announces Dividend

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

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the sale, the executive vice president now directly owns 30,010 shares in the company, valued at $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 73,655 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the sale, the insider now owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 189,301 shares of company stock valued at $121,470,200 over the last three months. 2.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. Barclays cut their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Finally, Stifel Nicolaus cut their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

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.