Ethic Inc. Buys 3,557 Shares of Intuit Inc. (NASDAQ:INTU)

Ethic Inc. lifted its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 15.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,004 shares of the software maker's stock after acquiring an additional 3,557 shares during the period. Ethic Inc.'s holdings in Intuit were worth $16,972,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Farallon Capital Management LLC lifted its holdings in shares of Intuit by 19.5% in the fourth quarter. Farallon Capital Management LLC now owns 753,758 shares of the software maker's stock worth $473,737,000 after buying an additional 123,061 shares in the last quarter. Fiduciary Trust Co boosted its holdings in Intuit by 0.7% in the 4th quarter. Fiduciary Trust Co now owns 7,538 shares of the software maker's stock valued at $4,738,000 after purchasing an additional 54 shares during the period. Circle Wealth Management LLC grew its position in shares of Intuit by 11.5% during the 4th quarter. Circle Wealth Management LLC now owns 2,586 shares of the software maker's stock valued at $1,625,000 after purchasing an additional 267 shares in the last quarter. Clark Capital Management Group Inc. increased its holdings in shares of Intuit by 16.9% in the fourth quarter. Clark Capital Management Group Inc. now owns 7,122 shares of the software maker's stock worth $4,476,000 after purchasing an additional 1,028 shares during the period. Finally, Deutsche Bank AG raised its position in shares of Intuit by 16.0% in the fourth quarter. Deutsche Bank AG now owns 1,323,060 shares of the software maker's stock worth $831,543,000 after buying an additional 182,161 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Down 0.3%

Shares of INTU stock traded down $2.20 during mid-day trading on Friday, reaching $653.88. 1,158,757 shares of the company's stock traded hands, compared to its average volume of 1,594,645. 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's 50-day moving average price is $602.37 and its 200-day moving average price is $617.62. The company has a market cap of $182.80 billion, a P/E ratio of 63.48, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $714.78.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were issued a $1.04 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.64%. Intuit's dividend payout ratio (DPR) is presently 38.81%.

Analyst Ratings Changes

Several analysts have weighed in on the company. JPMorgan Chase & Co. raised Intuit from a "neutral" rating to an "overweight" rating and raised their price target for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. BMO Capital Markets decreased 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 dropped 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. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price on the stock in a research note on Wednesday, April 23rd. Finally, Scotiabank raised 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 report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $717.53.

Insider Transactions at Intuit

In related news, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $4,800. This represents a 99.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction 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 directly owns 21,882 shares of the company's stock, valued at approximately $13,401,849.72. The trade was a 27.17% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,696 shares of company stock worth $14,347,731. Corporate insiders own 2.68% of the company's stock.

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.