Intuit Inc. (NASDAQ:INTU) Shares Bought by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,693 shares of the software maker’s stock after purchasing an additional 1,514 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Intuit were worth $88,426,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in INTU. Brown Financial Advisors grew its holdings in Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after buying an additional 15 shares in the last quarter. True North Advisors LLC grew 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 last quarter. Great Diamond Partners LLC raised its holdings in Intuit by 2.8% during the 4th 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 during the last quarter. Pacifica Partners Inc. grew its stake in shares of Intuit by 27.7% in the fourth quarter. Pacifica Partners Inc. now owns 83 shares of the software maker’s stock worth $52,000 after purchasing an additional 18 shares during the last quarter. Finally, Drive Wealth Management LLC boosted its holdings in Intuit by 2.4% in the fourth quarter. Drive Wealth Management LLC now owns 760 shares of the software maker’s stock valued at $478,000 after acquiring an additional 18 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intuit

In other news, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of 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 is accessible through this link. Also, EVP Marianna Tessel sold 7,385 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 40,190 shares in the company, valued at $24,119,224.70. This trade represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,774 shares of company stock valued at $15,015,315. 2.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Mizuho raised their price objective on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Scotiabank cut their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Jefferies Financial Group lowered their price target on Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Citigroup lowered 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. Finally, JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. One 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 company’s stock. Based on data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average target price of $718.00.

Intuit Trading Up 9.6 %

Shares of INTU stock opened at $596.48 on Thursday. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $714.78. The stock has a fifty day moving average of $592.26 and a two-hundred day moving average of $618.31. 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 market capitalization of $166.75 billion, a PE ratio of 57.91, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25.

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 dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is presently 38.81%.

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.