Pathstone Holdings LLC Buys 1,070 Shares of Intuit Inc. (NASDAQ:INTU)

Pathstone Holdings LLC lifted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,679 shares of the software maker's stock after acquiring an additional 1,070 shares during the quarter. Pathstone Holdings LLC's holdings in Intuit were worth $34,993,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Intuit by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock valued at $16,991,696,000 after purchasing an additional 353,185 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Intuit by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock valued at $3,833,720,000 after purchasing an additional 132,384 shares during the last quarter. Wellington Management Group LLP grew its position in Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after purchasing an additional 620,559 shares in the last quarter. Norges Bank purchased a new position in Intuit during the 4th quarter worth approximately $2,290,419,000. Finally, Northern Trust Corp grew its position in Intuit by 17.3% during the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock worth $2,118,682,000 after purchasing an additional 498,030 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Analysts Set New Price Targets

INTU has been the topic of several research analyst reports. Mizuho lifted their price objective on shares of Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Oppenheimer cut their price objective 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. Jefferies Financial Group dropped their price objective on shares of Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a report on Monday, March 31st. StockNews.com raised Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Finally, Scotiabank raised shares of Intuit from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $720.16.

Intuit Stock Up 0.6%

INTU traded up $3.91 on Monday, hitting $674.19. 458,252 shares of the company were exchanged, compared to its average volume of 1,810,425. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $714.78. The company has a market cap of $188.48 billion, a PE ratio of 65.50, a PEG 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. The stock's fifty day moving average is $608.44 and its 200-day moving average is $619.21.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were issued a $1.04 dividend. The ex-dividend date was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.62%. Intuit's payout ratio is 38.81%.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the sale, 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 ownership of the stock. The transaction 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 stock was sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the transaction, the executive vice president now owns 40,190 shares in the company, valued at approximately $24,119,224.70. This trade represents a 15.52% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is 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.