Farallon Capital Management LLC Has $473.74 Million Position in Intuit Inc. (NASDAQ:INTU)

Farallon Capital Management LLC increased its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 19.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 753,758 shares of the software maker's stock after acquiring an additional 123,061 shares during the period. Intuit makes up approximately 2.4% of Farallon Capital Management LLC's investment portfolio, making the stock its 13th biggest position. Farallon Capital Management LLC owned approximately 0.27% of Intuit worth $473,737,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in INTU. World Investment Advisors LLC acquired a new stake in Intuit during the third quarter valued at approximately $201,000. Fulton Bank N.A. lifted its position in shares of Intuit by 19.7% in the 4th quarter. Fulton Bank N.A. now owns 2,233 shares of the software maker's stock valued at $1,403,000 after acquiring an additional 367 shares in the last quarter. Douglas Lane & Associates LLC lifted its position in shares of Intuit by 109.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker's stock valued at $15,502,000 after acquiring an additional 12,916 shares in the last quarter. ORG Partners LLC lifted its position in shares of Intuit by 61.2% in the 4th quarter. ORG Partners LLC now owns 224 shares of the software maker's stock valued at $141,000 after acquiring an additional 85 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Intuit by 1.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,600 shares of the software maker's stock valued at $18,382,000 after acquiring an additional 293 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Performance

INTU traded up $8.42 during trading on Monday, hitting $662.30. The stock had a trading volume of 1,841,962 shares, compared to its average volume of 1,595,635. The firm has a market cap of $185.15 billion, a PE ratio of 64.30, 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. 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 company has a 50 day simple moving average of $602.37 and a 200-day simple moving average of $617.62.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 18th. Investors 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 0.63%. Intuit's dividend payout ratio (DPR) is presently 38.81%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Mizuho upped their price target on shares of Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. HSBC upgraded shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price for the company in a research report on Wednesday, April 23rd. Redburn Atlantic began coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a "neutral" rating for the company. StockNews.com upgraded shares of Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Finally, Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and increased their target price for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $717.53.

Insider Buying and Selling

In other Intuit news, EVP Marianna Tessel sold 7,385 shares of the firm's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05. Following the sale, the executive vice president now directly owns 40,190 shares in the company, valued at $24,119,224.70. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a document filed 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 stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares in the company, 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. 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.

Intuit 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.