OFI Invest Asset Management Makes New $3.22 Million Investment in Intuit Inc. (NASDAQ:INTU)

OFI Invest Asset Management bought a new stake in Intuit Inc. (NASDAQ:INTU) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 5,301 shares of the software maker’s stock, valued at approximately $3,217,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INTU. R Squared Ltd purchased a new position in shares of Intuit in the fourth quarter worth $25,000. NewSquare Capital LLC increased its position in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares during the period. Heck Capital Advisors LLC bought a new position in shares of Intuit during the fourth quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit during the fourth quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Intuit in the fourth quarter worth about $29,000. Institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 73,655 shares of Intuit stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the sale, the insider now owns 6,301,286 shares of the company’s stock, valued at approximately $4,189,977,112.84. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandeep Aujla sold 109 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the sale, the chief financial officer now owns 1,944 shares in the company, valued at approximately $1,221,804. The trade was a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 220,811 shares of company stock valued at $142,391,012 over the last three months. Corporate insiders own 2.68% of the company’s stock.

Intuit Trading Up 0.5 %

Shares of NASDAQ:INTU opened at $609.61 on Friday. The stock has a 50 day moving average of $602.28 and a 200 day moving average of $625.44. The company has a market cap of $170.42 billion, a PE ratio of 59.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Mizuho raised their price target on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. Barclays lowered their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price target (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Finally, Redburn Atlantic assumed coverage on shares of Intuit in a 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $721.61.

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.