UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 771,232 Shares of Intuit Inc. (NASDAQ:INTU)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 33.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,072,021 shares of the software maker’s stock after acquiring an additional 771,232 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Intuit were worth $1,930,765,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. R Squared Ltd acquired a new position in Intuit in the fourth quarter worth $25,000. NewSquare Capital LLC raised its holdings in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after buying an additional 18 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in Intuit during the 4th quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit during the 4th quarter worth about $28,000. Finally, Summit Securities Group LLC bought a new stake in Intuit during the 4th quarter worth about $28,000. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

INTU has been the topic of a number of research reports. Scotiabank upgraded shares of Intuit from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. UBS Group boosted their price objective on shares of Intuit from $655.00 to $720.00 and gave the stock a “neutral” rating in a research report on Friday. Hsbc Global Res upgraded Intuit from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Morgan Stanley lowered their target price on Intuit from $730.00 to $720.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price target (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $720.16.

Intuit Price Performance

Shares of INTU opened at $670.86 on Tuesday. The stock has a 50 day simple moving average of $610.04 and a 200 day simple moving average of $619.55. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $714.78. 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 firm has a market capitalization of $187.55 billion, a PE ratio of 65.13, a P/E/G ratio of 2.85 and a beta of 1.24.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Insider Transactions at Intuit

In other news, EVP Laura A. Fennell sold 8,163 shares of the business’s stock in a transaction dated 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 directly owns 21,882 shares in the company, valued at $13,401,849.72. The trade was a 27.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the transaction, the director now owns 8 shares of the company’s stock, valued at approximately $4,800. The trade was a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,696 shares of company stock valued at $14,347,731 over the last quarter. Corporate insiders own 2.68% of the company’s stock.

About Intuit

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.