Intuit Inc. (NASDAQ:INTU) Shares Purchased by HM Payson & Co.

HM Payson & Co. raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,861 shares of the software maker’s stock after buying an additional 53 shares during the quarter. HM Payson & Co.’s holdings in Intuit were worth $6,826,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. R Squared Ltd purchased a new stake in Intuit in the 4th quarter worth approximately $25,000. NewSquare Capital LLC raised its stake in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares during the period. Heck Capital Advisors LLC acquired a new position in shares of Intuit during the fourth quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Intuit during the 4th quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Intuit in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of Intuit 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 transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. The trade was a 36.64 % 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 completion of the sale, the insider now directly owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,811 shares of company stock worth $142,391,012 over the last quarter. 2.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on INTU shares. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $640.00 to $660.00 in a research note on Wednesday. Scotiabank decreased their price objective on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Stifel Nicolaus dropped their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Piper Sandler reissued an “overweight” rating and issued a $785.00 target price (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. One 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. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $721.61.

Intuit Stock Performance

Shares of INTU opened at $609.61 on Friday. The firm has a market capitalization of $170.42 billion, a PE ratio of 59.19, 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. The firm has a 50-day moving average price of $602.28 and a 200 day moving average price of $625.73. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78.

Intuit Dividend Announcement

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 paid a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s dividend payout ratio is presently 38.81%.

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.