Douglass Winthrop Advisors LLC Increases Stock Position in Intuit Inc. (NASDAQ:INTU)

Douglass Winthrop Advisors LLC increased its position in Intuit Inc. (NASDAQ:INTU) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,179 shares of the software maker’s stock after buying an additional 451 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Intuit were worth $8,912,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brown Financial Advisors raised its holdings in shares of Intuit by 0.9% in the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after purchasing an additional 15 shares during the period. Truvestments Capital LLC increased its position in Intuit by 1.5% during the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after purchasing an additional 16 shares in the last quarter. True North Advisors LLC raised its holdings in Intuit by 4.3% in 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 lifted 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 valued at $394,000 after buying an additional 17 shares in the last quarter. Finally, Prospera Financial Services Inc grew its stake in Intuit by 1.8% during the third 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 period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was 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 directly owns 35,776 shares in the company, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 115,646 shares of company stock worth $72,494,045. Corporate insiders own 2.68% of the company’s stock.

Intuit Trading Down 0.4 %

NASDAQ INTU opened at $600.42 on Friday. The company has a market capitalization of $167.85 billion, a price-to-earnings ratio of 58.29, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. The company’s fifty day moving average price is $596.47 and its two-hundred day moving average price is $623.00.

Intuit Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on INTU shares. Citigroup cut their target price on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. BMO Capital Markets cut their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Piper Sandler restated an “overweight” rating and set a $785.00 price objective (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Oppenheimer increased their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

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.