Intuit Inc. (NASDAQ:INTU) Shares Bought by Deutsche Bank AG

Deutsche Bank AG lifted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 16.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,323,060 shares of the software maker's stock after purchasing an additional 182,161 shares during the quarter. Deutsche Bank AG owned 0.47% of Intuit worth $831,543,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. R Squared Ltd bought a new stake in shares of Intuit during the fourth quarter valued at about $25,000. NewSquare Capital LLC raised its holdings in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after buying an additional 18 shares during the period. Heck Capital Advisors LLC purchased a new position in shares of Intuit during the fourth quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit in the fourth quarter valued at about $28,000. Finally, Summit Securities Group LLC purchased a new position in Intuit in the fourth quarter valued at $28,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 21,882 shares of the company's stock, valued at approximately $13,401,849.72. This 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 can be accessed through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the sale, the insider now directly owns 6,219,900 shares of the company's stock, valued at approximately $3,758,436,774. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,696 shares of company stock worth $14,347,731 over the last three months. 2.68% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on INTU shares. Piper Sandler restated an "overweight" rating and set a $785.00 price objective (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and raised their price objective for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. Morgan Stanley dropped 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. BNP Paribas lowered 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. Finally, StockNews.com raised Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $717.53.

Intuit Stock Performance

INTU stock traded down $5.64 during mid-day trading on Tuesday, hitting $656.66. 810,929 shares of the company were exchanged, compared to its average volume of 1,592,656. The business has a 50 day simple moving average of $603.27 and a 200-day simple moving average of $617.99. The stock has a market capitalization of $183.58 billion, a PE ratio of 63.75, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 1-year low of $532.65 and a 1-year 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.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 18th. Investors 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 payout ratio is currently 38.81%.

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.