Dimensional Fund Advisors LP Increases Stake in Intuit Inc. (NASDAQ:INTU)

Dimensional Fund Advisors LP grew its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 2.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 569,987 shares of the software maker's stock after purchasing an additional 14,842 shares during the period. Dimensional Fund Advisors LP owned approximately 0.20% of Intuit worth $358,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Transactions at Intuit

In related news, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the sale, the executive vice president now owns 21,882 shares in the company, valued at $13,401,849.72. This represents a 27.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction on Friday, March 21st. The shares were sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the completion of the transaction, the executive vice president now owns 40,190 shares in the company, valued at approximately $24,119,224.70. This represents a 15.52 % decrease in their ownership of the stock. 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.

Analyst Ratings Changes

A number of research analysts have commented on INTU shares. Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and upped their price target for the stock from $600.00 to $700.00 in a research note on Thursday, April 17th. JPMorgan Chase & Co. upgraded shares of Intuit from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. Mizuho raised their price objective on shares of Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. Piper Sandler reiterated an "overweight" rating and set a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Finally, Jefferies Financial Group decreased their price target on shares of Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a research report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $717.53.

Intuit Stock Up 1.5 %

Shares of Intuit stock traded up $9.29 during trading hours on Friday, hitting $624.12. The company had a trading volume of 1,540,630 shares, compared to its average volume of 1,579,942. The company's 50-day moving average is $593.48 and its two-hundred day moving average is $616.14. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $174.48 billion, a P/E ratio of 60.59, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Thursday, April 10th. Intuit's payout ratio is 38.81%.

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.