Bailard Inc. Acquires 889 Shares of Intuit Inc. (NASDAQ:INTU)

Bailard Inc. boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,988 shares of the software maker’s stock after purchasing an additional 889 shares during the quarter. Bailard Inc.’s holdings in Intuit were worth $11,934,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB grew its holdings in Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares during the period. Whalen Wealth Management Inc. acquired a new position in Intuit during the fourth quarter valued at approximately $621,000. Harvest Portfolios Group Inc. grew its holdings in Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after purchasing an additional 1,853 shares during the period. Retireful LLC acquired a new position in Intuit during the third quarter valued at approximately $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Intuit during the third quarter valued at approximately $56,144,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mark P. Notarainni sold 3,649 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $646.68, for a total value of $2,359,735.32. Following the transaction, the executive vice president now directly owns 19 shares of the company’s stock, valued at $12,286.92. This represents a 99.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 73,655 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the completion of the transaction, the insider now owns 6,301,286 shares in the company, valued at $4,189,977,112.84. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 218,014 shares of company stock valued at $140,855,687. 2.68% of the stock is currently owned by corporate insiders.

Intuit Stock Performance

Shares of INTU stock opened at $613.84 on Friday. 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 company’s fifty day simple moving average is $605.90 and its 200-day simple moving average is $627.12. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. The firm has a market cap of $171.82 billion, a PE ratio of 59.60, a P/E/G ratio of 2.85 and a beta of 1.24.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Piper Sandler restated an “overweight” rating and set a $785.00 price objective (up previously from $765.00) on shares of Intuit in a report on Wednesday. Oppenheimer upped their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Citigroup reduced their price target on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday. Barclays reduced their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Stifel Nicolaus reduced their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average price target of $717.88.

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.