21,311 Shares in Intuit Inc. (NASDAQ:INTU) Bought by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC acquired a new position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 21,311 shares of the software maker's stock, valued at approximately $13,394,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. Norges Bank acquired a new position in Intuit in the fourth quarter valued at $2,290,419,000. Proficio Capital Partners LLC lifted its stake 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 valued at $668,595,000 after purchasing an additional 1,062,847 shares during the period. Wellington Management Group LLP lifted its position in shares of 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 acquiring an additional 620,559 shares during the period. Unisphere Establishment boosted its position in Intuit by 50.0% during the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock worth $942,750,000 after purchasing an additional 500,000 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Intuit by 17.3% in the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock worth $2,118,682,000 after buying an additional 498,030 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Trading Up 2.3 %

INTU traded up $14.80 during trading on Thursday, reaching $655.94. 2,059,220 shares of the company's stock were exchanged, compared to its average volume of 1,592,471. The company's fifty day moving average price is $600.16 and its 200-day moving average price is $616.82. The firm has a market capitalization of $183.37 billion, a PE ratio of 63.68, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $714.78.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Thursday, April 10th. Intuit's dividend payout ratio is currently 38.81%.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction dated Friday, February 28th. The shares were 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 in the company, valued at $3,758,436,774. This represents a 0.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the firm's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now directly owns 8 shares of the company's stock, valued at $4,800. This represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,696 shares of company stock worth $14,347,731. Company insiders own 2.68% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Citigroup decreased their price objective on Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Jefferies Financial Group reduced their target price on Intuit from $800.00 to $735.00 and set a "buy" rating on the stock in a report on Monday, March 31st. JPMorgan Chase & Co. raised shares of Intuit from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Redburn Atlantic initiated coverage on Intuit in a research note on Wednesday, February 19th. They issued a "neutral" rating for the company. Finally, Oppenheimer dropped their price target on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $717.53.

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.