Pictet Asset Management Holding SA Grows Stake in Intuit Inc. (NASDAQ:INTU)

Pictet Asset Management Holding SA boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 46.4% during the fourth quarter, Holdings Channel reports. The firm owned 677,455 shares of the software maker’s stock after buying an additional 214,637 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Intuit were worth $425,780,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Larson Financial Group LLC lifted its holdings in shares of Intuit by 38.2% in the third quarter. Larson Financial Group LLC now owns 300 shares of the software maker’s stock valued at $186,000 after purchasing an additional 83 shares in the last quarter. D.A. Davidson & CO. lifted its stake in Intuit by 3.7% in the 3rd quarter. D.A. Davidson & CO. now owns 9,603 shares of the software maker’s stock valued at $5,964,000 after buying an additional 343 shares in the last quarter. Quantbot Technologies LP grew its holdings in Intuit by 1,027.3% during the 3rd quarter. Quantbot Technologies LP now owns 124 shares of the software maker’s stock valued at $77,000 after buying an additional 113 shares during the last quarter. Cadence Bank purchased a new position in Intuit during the third quarter worth $1,598,000. Finally, Townsquare Capital LLC raised its holdings in shares of Intuit by 11.9% in the third quarter. Townsquare Capital LLC now owns 15,000 shares of the software maker’s stock worth $9,315,000 after acquiring an additional 1,595 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other news, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the sale, the chief executive officer now owns 35,776 shares in the company, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 109 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the transaction, the chief financial officer now owns 1,944 shares of the company’s stock, valued at $1,221,804. This trade represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 132,896 shares of company stock valued at $82,946,716 over the last quarter. Company insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday, January 15th. Redburn Atlantic began coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. Citigroup cut their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. BMO Capital Markets decreased their target price on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $785.00 price target (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. One research 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. According to data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $721.61.

Intuit Stock Performance

Shares of INTU stock opened at $615.30 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $172.01 billion, a PE ratio of 59.74, a P/E/G ratio of 2.85 and a beta of 1.27. The company’s fifty day simple moving average is $596.00 and its 200-day simple moving average is $622.66. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is presently 38.81%.

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.