OFI Invest Asset Management Acquires Shares of 5,301 Intuit Inc. (NASDAQ:INTU)

OFI Invest Asset Management bought a new position in shares of Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,301 shares of the software maker’s stock, valued at approximately $3,217,000.

Other large investors also recently modified their holdings of the company. Brown Financial Advisors increased its position in shares of Intuit by 0.9% during 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 increased its holdings in Intuit by 1.5% during the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after purchasing an additional 16 shares in the last quarter. True North Advisors LLC raised its stake in shares of Intuit by 4.3% in the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock worth $257,000 after purchasing an additional 17 shares during the last quarter. Great Diamond Partners LLC lifted its holdings in shares of Intuit by 2.8% in the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock valued at $394,000 after purchasing an additional 17 shares in the last quarter. Finally, Kovack Advisors Inc. boosted its position in shares of Intuit by 4.8% during the third quarter. Kovack Advisors Inc. now owns 393 shares of the software maker’s stock valued at $244,000 after buying an additional 18 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Up 0.5 %

Intuit stock opened at $609.61 on Friday. The firm has a 50 day simple moving average of $602.28 and a 200 day simple moving average of $625.44. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78. The firm has a market capitalization of $170.42 billion, a price-to-earnings ratio of 59.19, a P/E/G ratio of 2.85 and a beta of 1.27.

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 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 payout ratio is 38.81%.

Insider Buying and Selling

In other news, CFO Sandeep Aujla sold 109 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the transaction, the chief financial officer now owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the transaction, the insider now owns 6,219,900 shares in the company, 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 220,811 shares of company stock valued at $142,391,012. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of analyst reports. Mizuho increased their price target on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Oppenheimer increased their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a report on Wednesday, February 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Finally, Redburn Atlantic assumed coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $721.61.

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.