Bristol Gate Capital Partners Inc. Has $89.78 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Bristol Gate Capital Partners Inc. reduced its stake in Intuit Inc. (NASDAQ:INTU) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 142,848 shares of the software maker’s stock after selling 948 shares during the period. Intuit accounts for approximately 4.4% of Bristol Gate Capital Partners Inc.’s investment portfolio, making the stock its 15th biggest position. Bristol Gate Capital Partners Inc.’s holdings in Intuit were worth $89,780,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Norges Bank bought a new stake in Intuit in the 4th quarter valued at about $2,290,419,000. Proficio Capital Partners LLC grew its position in Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after buying an additional 1,062,847 shares in the last quarter. Wellington Management Group LLP increased its stake in Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after acquiring an additional 620,559 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Intuit during the 4th quarter valued at $300,854,000. Finally, Vanguard Group Inc. grew its holdings 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 worth $16,991,696,000 after purchasing an additional 353,185 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on INTU. BNP Paribas downgraded shares of 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. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target for the company in a report on Wednesday, February 26th. Citigroup lowered their target price on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Redburn Atlantic started coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Finally, BMO Capital Markets dropped their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus target price of $718.00.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $561.53 on Monday. Intuit Inc. has a twelve month low of $533.55 and a twelve month high of $714.78. The firm has a market capitalization of $156.98 billion, a price-to-earnings ratio of 54.52, a PEG ratio of 2.85 and a beta of 1.25. The stock’s 50 day moving average is $595.64 and its 200-day moving average is $620.70. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is currently 38.81%.

Insider Activity

In related news, CFO Sandeep Aujla sold 1,300 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $626.42, for a total value of $814,346.00. Following the transaction, the chief financial officer now directly owns 644 shares of the company’s stock, valued at approximately $403,414.48. The trade was a 66.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the transaction, the executive vice president now owns 21,882 shares in the company, valued at approximately $13,401,849.72. The trade was a 27.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,862 shares of company stock worth $18,767,673 over the last 90 days. 2.68% of the stock is currently owned by corporate insiders.

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.