Bridges Investment Management Inc. Has $19.80 Million Position in Intuit Inc. (NASDAQ:INTU)

Bridges Investment Management Inc. decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,507 shares of the software maker’s stock after selling 320 shares during the quarter. Bridges Investment Management Inc.’s holdings in Intuit were worth $19,802,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. R Squared Ltd bought a new position in shares of Intuit in the fourth quarter valued at about $25,000. Heck Capital Advisors LLC bought a new position in Intuit in the 4th quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit in the 4th quarter valued at about $28,000. Sugar Maple Asset Management LLC acquired a new stake in Intuit during the fourth quarter worth approximately $29,000. Finally, Denver PWM LLC bought a new stake in shares of Intuit during the third quarter worth approximately $32,000. 83.66% of the stock is owned by institutional investors.

Intuit Stock Performance

Intuit stock opened at $613.84 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $171.82 billion, a PE ratio of 59.60, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78. The business’s 50-day moving average price is $605.90 and its two-hundred day moving average price is $627.12.

Intuit Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio is 38.81%.

Insider Activity at Intuit

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the transaction, the executive vice president now owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This represents a 13.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 218,014 shares of company stock valued at $140,855,687 in the last quarter. Insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus lowered their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a report on Wednesday. BMO Capital Markets decreased their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Finally, Jefferies Financial Group increased their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $717.88.

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.