Allianz SE Buys New Shares in Intuit Inc. (NASDAQ:INTU)

Allianz SE purchased a new position in Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,343 shares of the software maker’s stock, valued at approximately $10,931,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Intuit during the 4th quarter worth approximately $2,290,419,000. Proficio Capital Partners LLC lifted its holdings in shares of Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after purchasing an additional 1,062,847 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Intuit during the 4th quarter valued at $300,854,000. Vanguard Group Inc. increased its stake in Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock valued at $16,991,696,000 after purchasing an additional 353,185 shares in the last quarter. Finally, Holocene Advisors LP lifted its stake in shares of Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after buying an additional 312,212 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Stock Performance

NASDAQ INTU opened at $598.92 on Friday. The company’s 50 day moving average is $595.90 and its 200-day moving average is $622.46. The firm has a market cap of $167.44 billion, a P/E ratio of 58.15, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

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 paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s payout ratio is 38.81%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Citigroup lowered their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and raised their target price for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. Scotiabank lowered their price target on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Finally, Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

Insider Activity

In other Intuit news, CFO Sandeep Aujla sold 109 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the sale, the chief financial officer now owns 1,944 shares in the company, valued at $1,221,804. This trade represents a 5.31 % 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, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now directly owns 8 shares in the company, valued at $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 132,896 shares of company stock worth $82,946,716 over the last ninety days. Company insiders own 2.68% of the company’s stock.

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.