52,900 Shares in Intuit Inc. (NASDAQ:INTU) Bought by Factory Mutual Insurance Co.

Factory Mutual Insurance Co. bought a new position in Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 52,900 shares of the software maker’s stock, valued at approximately $33,248,000.

Several other large investors have also made changes to their positions in the company. Sanctuary Advisors LLC purchased a new position in Intuit in the second quarter valued at about $12,334,000. Czech National Bank raised its position in Intuit by 6.7% in the third quarter. Czech National Bank now owns 56,946 shares of the software maker’s stock valued at $35,363,000 after purchasing an additional 3,594 shares during the period. Unique Wealth LLC raised its position in Intuit by 18.9% in the third quarter. Unique Wealth LLC now owns 3,693 shares of the software maker’s stock valued at $2,293,000 after purchasing an additional 587 shares during the period. Rockland Trust Co. raised its position in Intuit by 1.6% in the third quarter. Rockland Trust Co. now owns 35,282 shares of the software maker’s stock valued at $21,910,000 after purchasing an additional 539 shares during the period. Finally, Handelsbanken Fonder AB raised its position in Intuit by 0.7% in the third quarter. Handelsbanken Fonder AB now owns 303,931 shares of the software maker’s stock valued at $188,741,000 after purchasing an additional 2,060 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares of the company’s stock, valued at $325,664.22. This represents a 97.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on INTU shares. Scotiabank started coverage on Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective on the stock. Morgan Stanley lifted their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Stifel Nicolaus dropped their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $765.00 target price on shares of Intuit in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $726.53.

Intuit Stock Down 0.5 %

NASDAQ:INTU opened at $601.51 on Friday. The firm has a market capitalization of $168.37 billion, a PE ratio of 58.40, a price-to-earnings-growth ratio of 2.92 and a beta of 1.25. The stock has a 50 day moving average of $631.72 and a 200-day moving average of $634.06. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.14 earnings per share. Analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

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.