Intuit Inc. (NASDAQ:INTU) Shares Purchased by Scotia Capital Inc.

Scotia Capital Inc. raised its holdings in Intuit Inc. (NASDAQ:INTU) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,963 shares of the software maker’s stock after acquiring an additional 256 shares during the quarter. Scotia Capital Inc.’s holdings in Intuit were worth $3,119,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of Intuit in the fourth quarter valued at about $25,000. NewSquare Capital LLC lifted its position in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Intuit during the 4th quarter valued at approximately $28,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit in the 4th quarter worth approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Intuit in the 4th quarter valued at approximately $28,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Price Performance

Intuit stock opened at $587.04 on Friday. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a 50 day moving average price of $591.70 and a 200 day moving average price of $617.55. The company has a market cap of $164.11 billion, a price-to-earnings ratio of 56.99, a PEG ratio of 2.85 and a beta of 1.25.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.71%. Intuit’s dividend payout ratio is presently 38.81%.

Insider Transactions at Intuit

In other Intuit news, EVP Marianna Tessel sold 7,385 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the completion of the sale, the executive vice president now directly owns 40,190 shares in the company, valued at $24,119,224.70. The trade was a 15.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 21,882 shares of the company’s stock, valued at $13,401,849.72. The trade was a 27.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock worth $14,347,731 in the last ninety days. Insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the topic of a number of research analyst reports. Scotiabank decreased their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Redburn Atlantic initiated coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and raised their target price for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. Jefferies Financial Group reduced their price target on shares of Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $713.56.

Intuit 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.