Brown Brothers Harriman & Co. Has $3.22 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Brown Brothers Harriman & Co. boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,119 shares of the software maker’s stock after purchasing an additional 120 shares during the period. Brown Brothers Harriman & Co.’s holdings in Intuit were worth $3,217,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of INTU. R Squared Ltd acquired a new stake in shares of Intuit in the 4th quarter valued at approximately $25,000. NewSquare Capital LLC raised its position in Intuit by 72.0% during 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. Heck Capital Advisors LLC acquired a new stake in Intuit in the fourth quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit during the 4th quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of Intuit during the 4th quarter worth about $29,000. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Intuit

In related news, EVP Laura A. Fennell sold 8,163 shares of the firm’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 sale, the executive vice president now directly owns 21,882 shares of the company’s stock, valued at $13,401,849.72. This trade represents a 27.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 132,896 shares of company stock valued at $82,946,716 over the last three months. 2.68% of the stock is owned by insiders.

Intuit Trading Down 2.7 %

INTU opened at $598.92 on Friday. The stock has a market capitalization of $167.44 billion, a price-to-earnings ratio of 58.15, a P/E/G ratio of 2.85 and a beta of 1.27. 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 Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The company has a 50-day simple moving average of $595.90 and a 200 day simple moving average of $622.38.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors 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 dividend payout ratio is 38.81%.

Analysts Set New Price Targets

INTU has been the subject of a number of research analyst reports. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a report on Wednesday, January 15th. BMO Capital Markets reduced their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and increased their price target for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Redburn Atlantic initiated coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Finally, Citigroup dropped their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $721.61.

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.