NorthRock Partners LLC Boosts Stake in Intuit Inc. (NASDAQ:INTU)

NorthRock Partners LLC boosted its stake in Intuit Inc. (NASDAQ:INTU) by 227.9% in the 4th quarter, Holdings Channel reports. The firm owned 3,302 shares of the software maker’s stock after purchasing an additional 2,295 shares during the period. NorthRock Partners LLC’s holdings in Intuit were worth $2,075,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Intuit in the 4th quarter valued at $237,000. OMERS ADMINISTRATION Corp grew its position in Intuit by 9.4% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 12,473 shares of the software maker’s stock valued at $7,839,000 after acquiring an additional 1,075 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Intuit by 0.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 235,248 shares of the software maker’s stock worth $147,855,000 after purchasing an additional 1,113 shares during the period. MJP Associates Inc. ADV increased its stake in Intuit by 4.6% during the fourth quarter. MJP Associates Inc. ADV now owns 1,863 shares of the software maker’s stock worth $1,171,000 after purchasing an additional 82 shares during the period. Finally, Lazard Asset Management LLC lifted its position in shares of Intuit by 15.8% during the fourth quarter. Lazard Asset Management LLC now owns 100,681 shares of the software maker’s stock worth $63,276,000 after purchasing an additional 13,746 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on INTU. BMO Capital Markets cut their target price on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. Mizuho increased their price objective on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. Scotiabank raised Intuit from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $600.00 to $700.00 in a research note on Thursday, April 17th. Finally, HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 price target on the stock in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $717.53.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the transaction, the executive vice president now owns 21,882 shares of the company’s stock, valued at $13,401,849.72. The trade was a 27.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the business’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 value of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares of the company’s stock, valued at approximately $4,800. This represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is currently owned by insiders.

Intuit Trading Down 0.8%

NASDAQ INTU opened at $656.80 on Wednesday. The firm’s fifty day moving average price is $604.28 and its 200 day moving average price is $618.26. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $183.62 billion, a price-to-earnings ratio of 63.77, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.63%. Intuit’s dividend payout ratio 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.