Texas Bank & Trust Co Takes $524,000 Position in Intuit Inc. (NASDAQ:INTU)

Texas Bank & Trust Co purchased a new stake in Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 834 shares of the software maker’s stock, valued at approximately $524,000.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Intuit during the 4th quarter valued at approximately $2,290,419,000. Proficio Capital Partners LLC increased its stake in shares of 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 purchasing an additional 1,062,847 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Intuit by 13.3% in 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 buying an additional 620,559 shares during the last quarter. Unisphere Establishment raised its holdings in shares of Intuit by 50.0% during the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker’s stock valued at $942,750,000 after acquiring an additional 500,000 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Intuit by 17.3% in the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker’s stock worth $2,118,682,000 after acquiring an additional 498,030 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of research reports. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Oppenheimer lowered their price target on shares of Intuit from $722.00 to $642.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Redburn Atlantic began coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Morgan Stanley decreased their target price on shares of Intuit from $730.00 to $720.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and upped their price target for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $720.16.

Insider Transactions at Intuit

In other Intuit news, EVP Marianna Tessel sold 7,385 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $600.13, for a total value of $4,431,960.05. Following the sale, the executive vice president now directly owns 40,190 shares in the company, valued at $24,119,224.70. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the sale, the executive vice president now owns 21,882 shares of the company’s stock, 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. 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 company insiders.

Intuit Stock Up 1.4%

Shares of INTU opened at $670.28 on Friday. The company’s 50-day simple moving average is $608.44 and its 200-day simple moving average is $619.15. 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 Inc. has a 1 year low of $532.65 and a 1 year high of $714.78. The stock has a market capitalization of $187.38 billion, a PE ratio of 65.08, a P/E/G ratio of 2.85 and a beta of 1.24.

Intuit Dividend Announcement

The firm also recently declared 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 dividend yield of 0.62%. Intuit’s dividend payout ratio (DPR) is 38.81%.

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.