United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Invests $1.13 Million in Intuit Inc. (NASDAQ:INTU)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,800 shares of the software maker’s stock, valued at approximately $1,131,000.

Other large investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its position in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after acquiring an additional 268,060 shares during the last quarter. Whalen Wealth Management Inc. purchased a new position in Intuit in the 4th quarter worth approximately $621,000. Beacon Investment Advisory Services Inc. increased its holdings in shares of Intuit by 3.8% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker’s stock worth $27,223,000 after buying an additional 1,602 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Intuit by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock valued at $107,854,000 after buying an additional 3,648 shares in the last quarter. Finally, Douglas Lane & Associates LLC lifted its holdings in shares of Intuit by 109.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker’s stock worth $15,502,000 after acquiring an additional 12,916 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Up 0.9 %

Shares of NASDAQ:INTU opened at $618.72 on Wednesday. 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 52-week low of $553.24 and a 52-week high of $714.78. The firm has a market capitalization of $172.97 billion, a P/E ratio of 60.07, a P/E/G ratio of 2.85 and a beta of 1.27. The stock has a 50 day moving average price of $595.97 and a 200-day moving average price of $622.76.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on INTU shares. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and raised their price target for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Mizuho increased their price target on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 price objective (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Citigroup reduced their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, Scotiabank dropped their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Insider Transactions at Intuit

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the transaction, the executive vice president now owns 21,882 shares of the company’s stock, valued at approximately $13,401,849.72. This trade represents a 27.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 132,896 shares of company stock valued at $82,946,716 in the last three months. 2.68% of the stock is currently owned by company insiders.

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.