Intuit Inc. (NASDAQ:INTU) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP increased its stake in Intuit Inc. (NASDAQ:INTU) by 13.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,296,921 shares of the software maker’s stock after acquiring an additional 620,559 shares during the period. Intuit makes up 0.6% of Wellington Management Group LLP’s investment portfolio, making the stock its 28th largest position. Wellington Management Group LLP owned about 1.89% of Intuit worth $3,329,115,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of INTU. Norges Bank purchased a new stake in Intuit during the fourth quarter worth approximately $2,290,419,000. Proficio Capital Partners LLC lifted its holdings in shares of Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after acquiring an additional 1,062,847 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Intuit during the 4th quarter worth $300,854,000. Vanguard Group Inc. raised its position in 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 period. Finally, Holocene Advisors LP lifted its stake in shares of Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after purchasing an additional 312,212 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the transaction, the insider now owns 6,219,900 shares in the company, valued at $3,758,436,774. The trade was a 0.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 132,896 shares of company stock valued at $82,946,716. 2.68% of the stock is currently owned by corporate insiders.

Intuit Stock Down 2.7 %

INTU opened at $598.92 on Monday. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The firm has a market cap of $167.44 billion, a price-to-earnings ratio of 58.15, a PEG ratio of 2.85 and a beta of 1.27. The firm’s 50-day simple moving average is $595.90 and its 200-day simple moving average is $622.23. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given 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 38.81%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Mizuho lifted their target price on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday, January 15th. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research report on Wednesday, February 26th. Finally, Redburn Atlantic initiated coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. 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. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $721.61.

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.