NorthRock Partners LLC Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

NorthRock Partners LLC boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 227.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,302 shares of the software maker’s stock after purchasing an additional 2,295 shares during the period. NorthRock Partners LLC’s holdings in Intuit were worth $2,075,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of INTU. True North Advisors LLC lifted its holdings in Intuit by 4.3% in the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after acquiring an additional 17 shares during the period. Great Diamond Partners LLC boosted its holdings in Intuit by 2.8% during the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after buying an additional 17 shares in the last quarter. Pacifica Partners Inc. grew its position in Intuit by 27.7% during the fourth quarter. Pacifica Partners Inc. now owns 83 shares of the software maker’s stock valued at $52,000 after buying an additional 18 shares during the period. Drive Wealth Management LLC increased its holdings in Intuit by 2.4% in the fourth quarter. Drive Wealth Management LLC now owns 760 shares of the software maker’s stock valued at $478,000 after buying an additional 18 shares in the last quarter. Finally, NewSquare Capital LLC raised its position in shares of Intuit by 72.0% in the fourth 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. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

NASDAQ:INTU opened at $656.80 on Wednesday. Intuit Inc. has a one year low of $532.65 and a one year high of $714.78. The stock has a market cap of $183.62 billion, a PE ratio of 63.77, a P/E/G ratio of 2.85 and a beta of 1.24. 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 stock has a 50 day moving average price of $604.28 and a 200 day moving average price of $618.26.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on INTU. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a report on Wednesday, January 15th. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and increased their target price for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Scotiabank raised shares of Intuit from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. BMO Capital Markets decreased their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, Mizuho boosted their target price on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $717.53.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the sale, the insider now owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the transaction, the executive vice president now directly owns 21,882 shares in the company, valued at approximately $13,401,849.72. This trade represents a 27.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,696 shares of company stock worth $14,347,731 in the last quarter. Company 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.