Raiffeisen Bank International AG Takes Position in Intuit Inc. (NASDAQ:INTU)

Raiffeisen Bank International AG bought a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 12,597 shares of the software maker's stock, valued at approximately $7,940,000.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Intuit during the fourth quarter valued at approximately $2,290,419,000. Proficio Capital Partners LLC raised its stake in Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock valued at $668,595,000 after purchasing an additional 1,062,847 shares during the period. Wellington Management Group LLP raised its stake in Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after purchasing an additional 620,559 shares during the period. Unisphere Establishment raised its stake in Intuit by 50.0% during the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock valued at $942,750,000 after purchasing an additional 500,000 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Intuit by 17.3% in the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock valued at $2,118,682,000 after purchasing an additional 498,030 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on INTU shares. Mizuho lifted their price target on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. Citigroup lowered their target price on Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Redburn Atlantic assumed coverage on Intuit in a report on Wednesday, February 19th. They issued a "neutral" rating on the stock. Morgan Stanley reduced their price target on shares of Intuit from $730.00 to $720.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, UBS Group raised their price target on shares of Intuit from $655.00 to $720.00 and gave the stock a "neutral" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Intuit currently has a consensus rating of "Moderate Buy" and an average target price of $720.16.

Intuit Stock Performance

Intuit stock traded up $0.58 during trading hours on Monday, reaching $670.86. 1,327,753 shares of the company were exchanged, compared to its average volume of 1,608,954. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average of $608.44 and a 200 day moving average of $619.21. The firm has a market cap of $187.55 billion, a price-to-earnings ratio of 65.13, a PEG ratio of 2.85 and a beta of 1.24.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.62%. Intuit's payout ratio is presently 38.81%.

Insider Buying and Selling

In other news, Director Eve B. Burton sold 1,702 shares of Intuit 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 transaction, the director now directly owns 8 shares in the company, valued at approximately $4,800. The trade was a 99.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Marianna Tessel sold 7,385 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now directly owns 40,190 shares of the company's stock, valued at $24,119,224.70. This represents a 15.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock worth $14,347,731 in the last quarter. 2.68% of the stock is currently owned by company insiders.

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.