Intuit Inc. (NASDAQ:INTU) Stock Position Boosted by Fayez Sarofim & Co

Fayez Sarofim & Co grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 8.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 893,017 shares of the software maker’s stock after buying an additional 66,151 shares during the quarter. Intuit comprises 1.4% of Fayez Sarofim & Co’s holdings, making the stock its 24th biggest position. Fayez Sarofim & Co owned about 0.32% of Intuit worth $565,967,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Intuit by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock valued at $16,991,696,000 after buying an additional 353,185 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Intuit by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker’s stock worth $3,833,720,000 after acquiring an additional 132,384 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after purchasing an additional 620,559 shares in the last quarter. Norges Bank acquired a new position in Intuit during the fourth quarter worth $2,290,419,000. Finally, Bank of New York Mellon Corp lifted its holdings in Intuit by 3.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker’s stock worth $1,499,744,000 after purchasing an additional 88,487 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Performance

INTU opened at $585.38 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a 50 day simple moving average of $592.03 and a two-hundred day simple moving average of $616.64. The firm has a market cap of $163.65 billion, a P/E ratio of 56.83, a PEG ratio of 2.85 and a beta of 1.25. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $714.78.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.71%. Intuit’s payout ratio is 38.81%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on INTU shares. Jefferies Financial Group cut their price objective on shares of Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Citigroup decreased their target price on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Scotiabank upgraded shares of Intuit from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $600.00 to $700.00 in a research report on Thursday. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Redburn Atlantic began coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $718.56.

Insider Activity

In other Intuit news, EVP Marianna Tessel sold 7,385 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $600.13, for a total value of $4,431,960.05. Following the completion of the sale, the executive vice president now directly owns 40,190 shares in the company, valued at approximately $24,119,224.70. This trade represents a 15.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction dated 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 $13,401,849.72. This represents a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is currently owned by insiders.

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.