Northwest & Ethical Investments L.P. Purchases 2,972 Shares of Intuit Inc. (NASDAQ:INTU)

Northwest & Ethical Investments L.P. raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,094 shares of the software maker’s stock after buying an additional 2,972 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Intuit were worth $25,199,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in INTU. Thrivent Financial for Lutherans raised its stake in Intuit by 2.7% during the third quarter. Thrivent Financial for Lutherans now owns 14,733 shares of the software maker’s stock valued at $9,149,000 after buying an additional 388 shares during the last quarter. Quest Partners LLC raised its stake in Intuit by 203.7% during the third quarter. Quest Partners LLC now owns 1,652 shares of the software maker’s stock valued at $1,026,000 after buying an additional 1,108 shares during the last quarter. Prospera Financial Services Inc raised its stake in Intuit by 1.8% during the third quarter. Prospera Financial Services Inc now owns 1,008 shares of the software maker’s stock valued at $626,000 after buying an additional 18 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its stake in Intuit by 1.8% during the third quarter. Fifth Third Wealth Advisors LLC now owns 2,909 shares of the software maker’s stock valued at $1,807,000 after buying an additional 51 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Intuit by 2.0% during the third quarter. PNC Financial Services Group Inc. now owns 127,892 shares of the software maker’s stock valued at $79,421,000 after buying an additional 2,498 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Barclays decreased their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. BMO Capital Markets reduced their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Scotiabank cut their price target on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Finally, Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a research note on Wednesday, February 26th. 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 company. Based on data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $721.61.

Intuit Trading Up 0.7 %

Shares of Intuit stock opened at $603.11 on Thursday. 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 $553.24 and a 1 year high of $714.78. The company has a market capitalization of $168.61 billion, a P/E ratio of 58.55, a P/E/G ratio of 2.85 and a beta of 1.27. The business has a 50 day moving average price of $596.98 and a 200 day moving average price of $623.15.

Intuit Announces Dividend

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 paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s payout ratio is currently 38.81%.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the transaction, the executive vice president now owns 30,010 shares in the company, valued at approximately $18,414,736.20. This represents a 13.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now directly owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 115,646 shares of company stock valued at $72,494,045. Company insiders own 2.68% of the company’s stock.

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.