APG Asset Management N.V. Buys 237,371 Shares of Intuit Inc. (NASDAQ:INTU)

APG Asset Management N.V. boosted its stake in Intuit Inc. (NASDAQ:INTU) by 474.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 287,399 shares of the software maker’s stock after purchasing an additional 237,371 shares during the quarter. APG Asset Management N.V. owned approximately 0.10% of Intuit worth $174,438,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. R Squared Ltd purchased a new position in Intuit in the 4th quarter worth approximately $25,000. NewSquare Capital LLC boosted its holdings in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Intuit during the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC bought a new stake in shares of Intuit in the fourth quarter worth approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit during the fourth quarter valued at approximately $28,000. 83.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on INTU shares. Jefferies Financial Group dropped their price target on Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 price objective (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective on the stock in a research report on Wednesday, February 26th. 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, Citigroup lowered their price target on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $718.00.

Insider Transactions at Intuit

In related news, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the transaction, the director now owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the sale, the executive vice president now directly owns 21,882 shares of the company’s stock, valued at approximately $13,401,849.72. This trade represents a 27.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,074 shares of company stock worth $15,829,661 over the last quarter. 2.68% of the stock is currently owned by insiders.

Intuit Stock Performance

NASDAQ INTU opened at $556.24 on Tuesday. 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 12-month low of $532.65 and a 12-month high of $714.78. The stock has a market capitalization of $155.50 billion, a price-to-earnings ratio of 54.00, a PEG ratio of 2.85 and a beta of 1.25. The business’s 50 day moving average is $594.64 and its two-hundred day moving average is $620.01.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is presently 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.