Zevenbergen Capital Investments LLC Buys 1,790 Shares of Intuit Inc. (NASDAQ:INTU)

Zevenbergen Capital Investments LLC lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,211 shares of the software maker’s stock after purchasing an additional 1,790 shares during the quarter. Zevenbergen Capital Investments LLC’s holdings in Intuit were worth $16,474,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Brown Financial Advisors increased its holdings in Intuit by 0.9% in the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after buying an additional 15 shares during the period. Truvestments Capital LLC increased its stake in shares of Intuit by 1.5% in the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after purchasing an additional 16 shares during the last quarter. True North Advisors LLC increased its stake in shares of Intuit by 4.3% in the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after purchasing an additional 17 shares during the last quarter. Great Diamond Partners LLC raised its holdings in shares of Intuit by 2.8% during the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after buying an additional 17 shares in the last quarter. Finally, Prospera Financial Services Inc lifted its position in shares of Intuit by 1.8% during the 3rd quarter. Prospera Financial Services Inc now owns 1,008 shares of the software maker’s stock worth $626,000 after buying an additional 18 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other Intuit news, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the transaction, the chief executive officer now owns 35,776 shares in the company, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark P. Notarainni sold 363 shares of Intuit stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $228,145.50. Following the transaction, the executive vice president now owns 19 shares of the company’s stock, valued at $11,941.50. This represents a 95.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 117,348 shares of company stock valued at $73,515,245 in the last three months. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of recent analyst reports. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. BMO Capital Markets decreased their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Mizuho upped their price objective on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Finally, Redburn Atlantic initiated coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. One equities research 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $721.61.

Intuit Stock Up 0.6 %

Intuit stock opened at $604.04 on Monday. 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 company has a market capitalization of $168.87 billion, a PE ratio of 58.64, a PEG ratio of 2.85 and a beta of 1.27. The firm’s fifty day moving average is $596.08 and its 200 day moving average is $622.80. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78.

Intuit Announces Dividend

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

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.