Whittier Trust Co. of Nevada Inc. Raises Holdings in Intuit Inc. (NASDAQ:INTU)

Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,539 shares of the software maker’s stock after acquiring an additional 630 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Intuit were worth $9,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in Intuit during the 4th quarter valued at about $25,000. NewSquare Capital LLC lifted its holdings in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after buying an additional 18 shares during the period. Heck Capital Advisors LLC purchased a new stake in Intuit in the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit in the 4th quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in Intuit in the 4th quarter worth approximately $29,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on INTU. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a report on Wednesday, February 26th. Jefferies Financial Group increased their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. Piper Sandler reiterated an “overweight” rating and issued a $785.00 price objective (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given 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 price target of $721.61.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the sale, the insider now owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark P. Notarainni sold 363 shares of Intuit stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $228,145.50. Following the completion of the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at approximately $11,941.50. The trade was a 95.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,646 shares of company stock valued at $72,494,045 in the last 90 days. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Down 0.4 %

INTU stock opened at $600.42 on Friday. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market cap of $167.85 billion, a PE ratio of 58.29, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The business has a 50 day moving average of $596.47 and a 200 day moving average of $623.00.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

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.