M&T Bank Corp Acquires 167 Shares of Intuit Inc. (NASDAQ:INTU)

M&T Bank Corp boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,952 shares of the software maker’s stock after buying an additional 167 shares during the quarter. M&T Bank Corp’s holdings in Intuit were worth $33,909,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in Intuit in the 4th quarter valued at approximately $25,000. NewSquare Capital LLC increased its position in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares during the period. Heck Capital Advisors LLC acquired a new stake in Intuit during the 4th quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit during the 4th quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Intuit during the 4th quarter valued at approximately $29,000. Institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the sale, the insider now directly owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,811 shares of company stock worth $142,391,012 in the last ninety days. Company insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on INTU shares. Jefferies Financial Group increased their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a research report on Wednesday, February 26th. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research report on Wednesday, January 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Finally, Barclays reduced their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $617.51 on Thursday. The stock has a market cap of $172.63 billion, a PE ratio of 59.95, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 1-year low of $553.24 and a 1-year 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. The stock’s fifty day simple moving average is $603.65 and its two-hundred day simple moving average is $626.24.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders 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 0.67%. The ex-dividend date is Thursday, April 10th. Intuit’s payout ratio is 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.