Mar Vista Investment Partners LLC Raises Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Mar Vista Investment Partners LLC lifted its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 30.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,712 shares of the software maker's stock after acquiring an additional 18,567 shares during the period. Intuit accounts for 3.4% of Mar Vista Investment Partners LLC's holdings, making the stock its 14th largest position. Mar Vista Investment Partners LLC's holdings in Intuit were worth $49,470,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Intuit by 1.3% in 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 raised its holdings in shares of Intuit by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock worth $3,833,720,000 after acquiring an additional 132,384 shares during the period. Wellington Management Group LLP boosted its position in shares of Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after acquiring an additional 620,559 shares during the last quarter. Norges Bank purchased a new stake in shares of Intuit in the fourth quarter valued at about $2,290,419,000. Finally, Bank of New York Mellon Corp increased its position in Intuit by 3.9% during the fourth quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker's stock worth $1,499,744,000 after purchasing an additional 88,487 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Scotiabank raised shares of Intuit from a "sector perform" rating to a "sector outperform" rating and increased their price target for the company from $600.00 to $700.00 in a research note on Thursday, April 17th. BMO Capital Markets cut their target price on Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Oppenheimer reduced their target price on Intuit from $722.00 to $642.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. raised Intuit from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. Finally, Piper Sandler restated an "overweight" rating and issued a $785.00 price objective (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $717.53.

Insider Activity

In other Intuit news, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction dated 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 directly owns 8 shares of the company's stock, valued at $4,800. The trade was a 99.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Laura A. Fennell sold 8,163 shares of the company's 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 directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is currently owned by corporate insiders.

Intuit Stock Down 1.3 %

Shares of Intuit stock traded down $8.28 on Monday, reaching $615.84. 556,596 shares of the company were exchanged, compared to its average volume of 1,577,479. The stock's 50 day moving average price is $593.48 and its 200-day moving average price is $616.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio 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 market cap of $172.17 billion, a P/E ratio of 59.81, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25.

Intuit Announces Dividend

The company also recently declared 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 yield of 0.68%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit's dividend payout ratio (DPR) is presently 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.