Northern Trust Corp Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

Northern Trust Corp raised its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 17.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,371,013 shares of the software maker's stock after purchasing an additional 498,030 shares during the quarter. Northern Trust Corp owned 1.20% of Intuit worth $2,118,682,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Invst LLC acquired a new position in shares of Intuit in the third quarter worth about $203,000. Virtu Financial LLC acquired a new position in shares of Intuit in the third quarter worth about $7,506,000. Anchor Investment Management LLC raised its position in shares of Intuit by 6.6% during the 3rd quarter. Anchor Investment Management LLC now owns 2,415 shares of the software maker's stock worth $1,500,000 after purchasing an additional 150 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of Intuit during the 3rd quarter worth about $201,000. Finally, Wilmington Savings Fund Society FSB raised its position in shares of Intuit by 7.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 25,869 shares of the software maker's stock worth $16,065,000 after purchasing an additional 1,721 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Price Performance

Shares of INTU stock opened at $624.12 on Monday. The firm has a market cap of $174.48 billion, a P/E ratio of 60.59, a P/E/G ratio of 2.85 and a beta of 1.25. 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 firm has a fifty day moving average of $593.48 and a two-hundred day moving average of $616.08.

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 paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Thursday, April 10th. Intuit's payout ratio is 38.81%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Redburn Atlantic assumed coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a "neutral" rating for the company. HSBC upgraded shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective for the company in a report on Wednesday, April 23rd. Hsbc Global Res upgraded shares of Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Mizuho raised their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Finally, Jefferies Financial Group cut their target price on Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $717.53.

Insider Buying and Selling at Intuit

In related news, EVP Laura A. Fennell sold 8,163 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the sale, the executive vice president now directly owns 21,882 shares in the company, valued at $13,401,849.72. The trade was a 27.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Marianna Tessel sold 7,385 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 40,190 shares of the company's stock, 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. Insiders sold 23,696 shares of company stock valued at $14,347,731 in the last ninety days. Company 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.

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