Intuit Inc. (NASDAQ:INTU) Shares Purchased by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 9.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,525 shares of the software maker’s stock after buying an additional 2,994 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Intuit were worth $22,327,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. Vanguard Group Inc. boosted its position in shares of Intuit by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock worth $16,991,696,000 after buying an additional 353,185 shares during the period. State Street Corp grew its holdings in Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after acquiring an additional 221,885 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Intuit by 1.4% in the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after buying an additional 80,463 shares during the period. Norges Bank purchased a new position in shares of Intuit during the 4th quarter valued at $2,290,419,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Intuit by 3.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker’s stock worth $1,499,744,000 after acquiring an additional 88,487 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on INTU shares. Scotiabank cut their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Mizuho lifted their target price on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research note on Wednesday, February 26th. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research report on Wednesday, January 15th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 price objective (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $721.61.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction 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 of the company’s stock, valued at $3,758,436,774. The trade was a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the transaction, the chief executive officer now owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 132,896 shares of company stock valued at $82,946,716. 2.68% of the stock is owned by company insiders.

Intuit Trading Up 0.1 %

INTU opened at $615.30 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The business’s 50 day moving average price is $596.00 and its 200 day moving average price is $622.66. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78. The stock has a market capitalization of $172.01 billion, a PE ratio of 59.74, a P/E/G ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a $1.04 dividend. The ex-dividend date 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%.

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.