Osterweis Capital Management Inc. Increases Holdings in Intuit Inc. (NASDAQ:INTU)

Osterweis Capital Management Inc. boosted its stake in Intuit Inc. (NASDAQ:INTU) by 0.4% in the 4th quarter, Holdings Channel reports. The firm owned 42,977 shares of the software maker’s stock after acquiring an additional 189 shares during the quarter. Intuit accounts for approximately 1.3% of Osterweis Capital Management Inc.’s portfolio, making the stock its 29th largest position. Osterweis Capital Management Inc.’s holdings in Intuit were worth $27,011,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in INTU. Norges Bank bought a new position in Intuit in the 4th quarter valued at $2,290,419,000. Proficio Capital Partners LLC raised its position in shares of Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after buying an additional 1,062,847 shares in the last quarter. Wellington Management Group LLP boosted its stake in Intuit by 13.3% during the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after buying an additional 620,559 shares during the period. Raymond James Financial Inc. purchased a new position in Intuit during the fourth quarter worth about $300,854,000. Finally, Vanguard Group Inc. increased its stake in Intuit by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock worth $16,991,696,000 after acquiring an additional 353,185 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 21,882 shares in the company, valued at approximately $13,401,849.72. This trade represents a 27.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $600.13, for a total value of $4,431,960.05. Following the completion of the sale, the executive vice president now owns 40,190 shares in the company, valued at approximately $24,119,224.70. This represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,696 shares of company stock worth $14,347,731. Company insiders own 2.68% of the company’s stock.

Intuit Trading Down 1.0 %

NASDAQ:INTU opened at $588.08 on Thursday. The firm has a market capitalization of $164.40 billion, a P/E ratio of 57.10, a P/E/G ratio of 2.85 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average of $592.07 and a 200 day moving average of $616.88. Intuit Inc. has a 52 week low of $532.65 and a 52 week 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. This represents a $4.16 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is 38.81%.

Analyst Upgrades and Downgrades

INTU has been the subject of several recent analyst reports. Scotiabank cut their price objective on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Morgan Stanley cut their price target on shares of Intuit from $730.00 to $720.00 and set an “overweight” rating for the company in a research note on Wednesday. BMO Capital Markets lowered their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Oppenheimer cut their target price on shares of Intuit from $722.00 to $642.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Finally, BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research report on Wednesday, January 15th. One investment 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, Intuit has an average rating of “Moderate Buy” and a consensus price target of $713.00.

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.