8,539 Shares in Intuit Inc. (NASDAQ:INTU) Acquired by Madison Investment Advisors LLC

Madison Investment Advisors LLC purchased a new position in shares of Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 8,539 shares of the software maker’s stock, valued at approximately $5,367,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp raised its position in 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 purchasing an additional 221,885 shares in the last quarter. Geode Capital Management LLC raised its position in 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 purchasing an additional 80,463 shares in the last quarter. Fisher Asset Management LLC raised its position in 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 purchasing an additional 107,482 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Intuit by 3.9% in 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Intuit by 4.0% in 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 period. 83.66% of the stock is owned by institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the transaction, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the transaction, the director now directly owns 8 shares of the company’s stock, valued at $4,800. The trade was a 99.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,348 shares of company stock valued at $73,515,245 over the last quarter. 2.68% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on INTU. Morgan Stanley upgraded 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. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a report on Wednesday, January 15th. Redburn Atlantic began coverage on Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Piper Sandler reiterated an “overweight” rating and issued a $785.00 price target (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $721.61.

Intuit Stock Performance

NASDAQ INTU opened at $604.04 on Friday. The stock has a market capitalization of $168.87 billion, a price-to-earnings ratio of 58.64, a PEG ratio of 2.85 and a beta of 1.27. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average of $596.08 and a 200 day moving average of $622.81.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued 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 0.69%. Intuit’s payout ratio is currently 38.81%.

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.