Grantham Mayo Van Otterloo & Co. LLC Buys 46 Shares of Intuit Inc. (NASDAQ:INTU)

Grantham Mayo Van Otterloo & Co. LLC grew its stake in Intuit Inc. (NASDAQ:INTU) by 2.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,821 shares of the software maker’s stock after buying an additional 46 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Intuit were worth $1,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Nomura Asset Management Co. Ltd. increased its stake in Intuit by 7.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 97,131 shares of the software maker’s stock valued at $60,318,000 after acquiring an additional 6,353 shares during the period. Groupama Asset Managment grew its holdings in shares of Intuit by 10.6% during the 3rd quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock worth $47,000 after purchasing an additional 720 shares in the last quarter. Continuum Advisory LLC increased its position in shares of Intuit by 28.6% during the third quarter. Continuum Advisory LLC now owns 171 shares of the software maker’s stock valued at $106,000 after purchasing an additional 38 shares during the period. Conway Capital Management Inc. acquired a new position in shares of Intuit in the third quarter valued at $2,279,000. Finally, Disciplined Growth Investors Inc. MN lifted its position in Intuit by 1.4% in the third quarter. Disciplined Growth Investors Inc. MN now owns 197,805 shares of the software maker’s stock worth $122,837,000 after purchasing an additional 2,640 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction 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 sale, the insider now directly owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,774 shares of company stock valued at $15,015,315. 2.68% of the stock is currently owned by corporate insiders.

Intuit Stock Down 2.2 %

Shares of NASDAQ:INTU opened at $544.07 on Wednesday. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $714.78. The company’s 50-day moving average price is $592.53 and its two-hundred day moving average price is $618.78. The firm has a market cap of $152.10 billion, a P/E ratio of 52.82, a P/E/G ratio of 2.85 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

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 given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on INTU shares. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Piper Sandler reissued an “overweight” rating and issued a $785.00 price target (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Jefferies Financial Group decreased their price objective on Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a report on Monday, March 31st. BMO Capital Markets dropped their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, Mizuho upped 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. One investment 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $718.00.

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.