Northwest & Ethical Investments L.P. Buys 2,972 Shares of Intuit Inc. (NASDAQ:INTU)

Northwest & Ethical Investments L.P. lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 8.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 40,094 shares of the software maker’s stock after purchasing an additional 2,972 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Intuit were worth $25,199,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in INTU. R Squared Ltd bought a new position in Intuit during the 4th quarter worth approximately $25,000. NewSquare Capital LLC increased its holdings 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 buying an additional 18 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in Intuit during the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit in the fourth quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of Intuit in the fourth quarter valued at $29,000. 83.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

INTU has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Citigroup reduced their price target on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. Redburn Atlantic assumed coverage on Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. Finally, Oppenheimer upped their price objective on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. One investment 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. According to data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average target price of $721.61.

Intuit Price Performance

Shares of Intuit stock opened at $603.11 on Thursday. The business has a 50 day simple moving average of $596.98 and a two-hundred day simple moving average of $623.15. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. The stock has a market capitalization of $168.61 billion, a P/E ratio of 58.55, a PEG 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders 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 yield of 0.69%. Intuit’s dividend payout ratio (DPR) is 38.81%.

Insiders Place Their Bets

In related news, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the transaction, the insider now directly owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. The trade was a 0.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the transaction, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,646 shares of company stock valued at $72,494,045 over the last quarter. 2.68% of the stock is owned by insiders.

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.