Financial Counselors Inc. Boosts Stock Position in Intuit Inc. (NASDAQ:INTU)

Financial Counselors Inc. grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 17,885 shares of the software maker’s stock after purchasing an additional 248 shares during the period. Financial Counselors Inc.’s holdings in Intuit were worth $11,241,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brown Financial Advisors lifted 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 purchasing an additional 15 shares in the last quarter. True North Advisors LLC lifted its stake in shares of Intuit by 4.3% during the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after buying an additional 17 shares during the period. Great Diamond Partners LLC boosted its position in Intuit by 2.8% during the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after acquiring an additional 17 shares during the last quarter. RB Capital Management LLC grew its stake in Intuit by 0.6% in the 3rd quarter. RB Capital Management LLC now owns 3,169 shares of the software maker’s stock worth $1,968,000 after acquiring an additional 18 shares during the period. Finally, Pacifica Partners Inc. raised its holdings in Intuit by 27.7% in the 4th quarter. Pacifica Partners Inc. now owns 83 shares of the software maker’s stock valued at $52,000 after acquiring an additional 18 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on INTU. Citigroup lowered their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report 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 for the company in a research note on Wednesday, February 26th. Scotiabank decreased their target price on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price target (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Finally, BNP Paribas lowered shares of 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. One 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $721.61.

Intuit Stock Performance

Shares of NASDAQ:INTU opened at $614.86 on Thursday. The business’s 50-day simple moving average is $595.84 and its 200 day simple moving average is $622.71. The company has a market cap of $171.89 billion, a P/E ratio of 59.70, a PEG ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78.

Intuit Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s dividend payout ratio is currently 38.81%.

Insider Transactions at Intuit

In related news, EVP Laura A. Fennell sold 8,163 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the transaction, the executive vice president now owns 21,882 shares in the company, valued at approximately $13,401,849.72. The trade was a 27.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the sale, the chief executive officer now owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 132,896 shares of company stock valued at $82,946,716. Corporate insiders own 2.68% of the company’s stock.

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.