Skandinaviska Enskilda Banken AB publ Increases Stock Position in Intuit Inc. (NASDAQ:INTU)

Skandinaviska Enskilda Banken AB publ grew its holdings in Intuit Inc. (NASDAQ:INTU) by 12.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 282,880 shares of the software maker’s stock after purchasing an additional 31,008 shares during the quarter. Intuit makes up approximately 0.8% of Skandinaviska Enskilda Banken AB publ’s portfolio, making the stock its 22nd largest holding. Skandinaviska Enskilda Banken AB publ’s holdings in Intuit were worth $178,345,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Nations Financial Group Inc. IA ADV raised its stake in Intuit by 22.0% during the third quarter. Nations Financial Group Inc. IA ADV now owns 1,016 shares of the software maker’s stock worth $631,000 after purchasing an additional 183 shares during the period. Entropy Technologies LP acquired a new stake in shares of Intuit during the 3rd quarter worth $1,539,000. First National Trust Co raised its position in shares of Intuit by 6.8% in the 3rd quarter. First National Trust Co now owns 1,067 shares of the software maker’s stock worth $663,000 after buying an additional 68 shares during the period. Haverford Trust Co boosted its holdings in Intuit by 0.7% in the third quarter. Haverford Trust Co now owns 52,913 shares of the software maker’s stock valued at $32,859,000 after acquiring an additional 375 shares during the last quarter. Finally, Simmons Bank grew its position in Intuit by 2.3% during the third quarter. Simmons Bank now owns 842 shares of the software maker’s stock valued at $523,000 after acquiring an additional 19 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Barclays cut their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Piper Sandler restated an “overweight” rating and issued a $785.00 price target (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Mizuho increased 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. Finally, Oppenheimer lifted their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Stock Performance

Shares of INTU stock opened at $591.14 on Thursday. The stock has a market capitalization of $165.26 billion, a price-to-earnings ratio of 57.39, a PEG ratio of 2.85 and a beta of 1.27. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78. The company’s 50-day simple moving average is $599.68 and its 200-day simple moving average is $624.06. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is presently 38.81%.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 6,446 shares of the firm’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 transaction, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the sale, the chief executive officer now owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. The trade was a 67.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,301 shares of company stock worth $121,470,200. 2.68% of the stock is currently owned by corporate insiders.

Intuit Company 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.