Donaldson Capital Management LLC Boosts Stock Position in Intuit Inc. (NASDAQ:INTU)

Donaldson Capital Management LLC boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,779 shares of the software maker’s stock after acquiring an additional 169 shares during the quarter. Donaldson Capital Management LLC’s holdings in Intuit were worth $6,774,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in INTU. Proficio Capital Partners LLC lifted its holdings in shares of Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after buying an additional 1,062,847 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Intuit in the 4th quarter worth $300,854,000. Holocene Advisors LP lifted its holdings in shares of Intuit by 99.6% in the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after buying an additional 312,212 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after buying an additional 268,060 shares during the period. Finally, State Street Corp lifted its holdings in shares of Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after buying an additional 221,885 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Trading Down 4.9 %

Shares of NASDAQ:INTU opened at $579.78 on Tuesday. The business’s 50-day moving average is $601.27 and its 200 day moving average is $624.52. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The firm has a market capitalization of $162.08 billion, a P/E ratio of 56.29, a P/E/G ratio of 2.85 and a beta of 1.27. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.72%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is currently 38.81%.

Analysts Set New Price Targets

Several brokerages have weighed in on INTU. Stifel Nicolaus lowered their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Mizuho upped their target price on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a research note on Wednesday, February 26th. Redburn Atlantic assumed coverage on Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $721.61.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 213,111 shares of company stock valued at $137,327,184 in the last ninety days. 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.