Zevenbergen Capital Investments LLC Increases Stake in Intuit Inc. (NASDAQ:INTU)

Zevenbergen Capital Investments LLC boosted its position in Intuit Inc. (NASDAQ:INTU) by 7.3% during the fourth quarter, HoldingsChannel reports. The fund owned 26,211 shares of the software maker’s stock after buying an additional 1,790 shares during the quarter. Zevenbergen Capital Investments LLC’s holdings in Intuit were worth $16,474,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. ICW Investment Advisors LLC lifted its stake in shares of Intuit by 33.8% during the 4th quarter. ICW Investment Advisors LLC now owns 1,295 shares of the software maker’s stock valued at $814,000 after buying an additional 327 shares in the last quarter. Corebridge Financial Inc. boosted its holdings in shares of Intuit by 0.6% in the fourth quarter. Corebridge Financial Inc. now owns 96,134 shares of the software maker’s stock worth $60,420,000 after acquiring an additional 591 shares during the period. Congress Wealth Management LLC DE grew its position in shares of Intuit by 2.0% in the fourth quarter. Congress Wealth Management LLC DE now owns 30,207 shares of the software maker’s stock valued at $18,986,000 after purchasing an additional 584 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Intuit by 1.3% during the 4th 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, LPL Financial LLC lifted its holdings in Intuit by 4.4% during the 4th quarter. LPL Financial LLC now owns 203,766 shares of the software maker’s stock worth $127,887,000 after purchasing an additional 8,591 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Up 0.6 %

INTU stock opened at $604.04 on Monday. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The company has a market capitalization of $168.87 billion, a price-to-earnings ratio of 58.64, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The business’s 50 day moving average price is $596.08 and its two-hundred day moving average price is $622.80. 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 declared a quarterly dividend, which will be paid on Friday, April 18th. Investors 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 38.81%.

Insiders Place Their Bets

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares of the company’s stock, valued at approximately $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction that occurred 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 directly owns 6,219,900 shares in the company, 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. Over the last 90 days, insiders sold 117,348 shares of company stock worth $73,515,245. 2.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on INTU. Redburn Atlantic started coverage on Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Piper Sandler reiterated an “overweight” rating and set a $785.00 target price (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. BMO Capital Markets lowered their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Finally, BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.