Davis R M Inc. Grows Stake in Intuit Inc. (NASDAQ:INTU)

Davis R M Inc. grew its holdings in Intuit Inc. (NASDAQ:INTU) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,684 shares of the software maker’s stock after purchasing an additional 413 shares during the period. Intuit makes up about 1.7% of Davis R M Inc.’s holdings, making the stock its 14th biggest position. Davis R M Inc.’s holdings in Intuit were worth $87,792,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. R Squared Ltd bought a new stake in shares of Intuit in the fourth quarter valued at approximately $25,000. NewSquare Capital LLC increased its holdings in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares during the period. Heck Capital Advisors LLC bought a new stake in Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit during the 4th quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in Intuit during the 4th quarter worth approximately $29,000. Institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Shares of Intuit stock opened at $579.78 on Tuesday. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The stock has a market capitalization of $162.08 billion, a price-to-earnings ratio of 56.29, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The company has a fifty day moving average of $601.27 and a 200-day moving average of $624.52. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.72%. Intuit’s dividend payout ratio (DPR) is 38.81%.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 73,655 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 6,301,286 shares in the company, valued at approximately $4,189,977,112.84. This represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 109 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the transaction, the chief financial officer now owns 1,944 shares of the company’s stock, valued at $1,221,804. This trade represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 213,111 shares of company stock valued at $137,327,184. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of analyst reports. Barclays decreased their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Mizuho upped their target price on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. Oppenheimer upped their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $785.00 price target (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

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.