J.Safra Asset Management Corp Acquires 48 Shares of Intuit Inc. (NASDAQ:INTU)

J.Safra Asset Management Corp lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 80.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 108 shares of the software maker’s stock after purchasing an additional 48 shares during the quarter. J.Safra Asset Management Corp’s holdings in Intuit were worth $68,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Janney Montgomery Scott LLC lifted its holdings in Intuit by 0.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 31,405 shares of the software maker’s stock valued at $19,503,000 after purchasing an additional 242 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in Intuit by 27.2% during the 3rd quarter. Impax Asset Management Group plc now owns 22,248 shares of the software maker’s stock valued at $13,816,000 after purchasing an additional 4,759 shares during the last quarter. Pittenger & Anderson Inc. lifted its holdings in Intuit by 20.1% during the 3rd quarter. Pittenger & Anderson Inc. now owns 3,741 shares of the software maker’s stock valued at $2,323,000 after purchasing an additional 625 shares during the last quarter. Crestwood Advisors Group LLC lifted its holdings in Intuit by 5.7% during the 3rd quarter. Crestwood Advisors Group LLC now owns 1,663 shares of the software maker’s stock valued at $1,032,000 after purchasing an additional 90 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC lifted its holdings in Intuit by 36.1% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 667 shares of the software maker’s stock valued at $414,000 after purchasing an additional 177 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Stock Up 3.3 %

Intuit stock opened at $617.51 on Thursday. The company’s 50 day simple moving average is $603.65 and its 200 day simple moving average is $626.24. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The firm has a market capitalization of $172.63 billion, a price-to-earnings ratio of 59.95, a PEG ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is 38.81%.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 73,655 shares of Intuit stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the transaction, the insider now owns 6,301,286 shares of the company’s stock, valued at approximately $4,189,977,112.84. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,811 shares of company stock valued at $142,391,012 in the last 90 days. 2.68% of the stock is owned by insiders.

Analysts Set New Price Targets

INTU has been the subject of several research reports. Barclays lowered their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Redburn Atlantic initiated coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. Oppenheimer raised their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. BMO Capital Markets lowered their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Finally, Piper Sandler restated an “overweight” rating and issued a $785.00 price objective (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average target price of $721.61.

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.