Treasurer of the State of North Carolina Increases Position in Intuit Inc. (NASDAQ:INTU)

Treasurer of the State of North Carolina boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 140,693 shares of the software maker’s stock after purchasing an additional 1,514 shares during the period. Treasurer of the State of North Carolina’s holdings in Intuit were worth $88,426,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in INTU. Continuum Advisory LLC raised its position in Intuit by 28.6% in the third quarter. Continuum Advisory LLC now owns 171 shares of the software maker’s stock valued at $106,000 after purchasing an additional 38 shares during the period. Coldstream Capital Management Inc. grew its position in shares of Intuit by 16.9% during the third quarter. Coldstream Capital Management Inc. now owns 7,584 shares of the software maker’s stock worth $4,784,000 after acquiring an additional 1,097 shares during the last quarter. Brown Financial Advisors grew its position in Intuit by 0.9% in 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 during the last quarter. Toronto Dominion Bank lifted its holdings in Intuit by 3.6% in the third quarter. Toronto Dominion Bank now owns 168,722 shares of the software maker’s stock valued at $104,776,000 after acquiring an additional 5,840 shares during the period. Finally, Arete Wealth Advisors LLC increased its position in shares of Intuit by 20.0% in the third quarter. Arete Wealth Advisors LLC now owns 540 shares of the software maker’s stock valued at $334,000 after buying an additional 90 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Price Performance

Shares of INTU stock opened at $596.48 on Thursday. The firm’s 50-day moving average is $592.26 and its two-hundred day moving average is $618.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company 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 Inc. has a 12 month low of $532.65 and a 12 month high of $714.78.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Analysts Set New Price Targets

INTU has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. BMO Capital Markets dropped their price target 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. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Finally, Redburn Atlantic began coverage on Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $718.00.

Insider Activity

In related news, EVP Laura A. Fennell sold 8,163 shares of the firm’s 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 sale, the executive vice president now directly owns 21,882 shares of the company’s stock, valued at approximately $13,401,849.72. This trade represents a 27.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now owns 8 shares of the company’s stock, valued at $4,800. The trade was a 99.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,774 shares of company stock worth $15,015,315. Corporate insiders own 2.68% of the company’s stock.

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.