Twin Capital Management Inc. Grows Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Twin Capital Management Inc. raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,679 shares of the software maker’s stock after buying an additional 40 shares during the period. Intuit comprises approximately 0.7% of Twin Capital Management Inc.’s holdings, making the stock its 24th largest position. Twin Capital Management Inc.’s holdings in Intuit were worth $6,712,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Brown Financial Advisors increased its stake in shares of Intuit by 0.9% in the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after purchasing an additional 15 shares in the last quarter. True North Advisors LLC lifted its position in shares of Intuit by 4.3% during the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after buying an additional 17 shares in the last quarter. Great Diamond Partners LLC increased its holdings in Intuit by 2.8% in the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after acquiring an additional 17 shares in the last quarter. RB Capital Management LLC lifted its holdings in Intuit by 0.6% during the third quarter. RB Capital Management LLC now owns 3,169 shares of the software maker’s stock valued at $1,968,000 after purchasing an additional 18 shares in the last quarter. Finally, Pacifica Partners Inc. raised its position in shares of Intuit by 27.7% during the 4th quarter. Pacifica Partners Inc. now owns 83 shares of the software maker’s stock valued at $52,000 after purchasing an additional 18 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity

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 shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the transaction, the executive vice president now directly owns 30,010 shares in the company, valued at $18,414,736.20. This represents a 13.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now directly owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,862 shares of company stock valued at $18,767,673. 2.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on INTU shares. 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 report on Wednesday, February 26th. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Redburn Atlantic initiated coverage on Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Mizuho boosted their target price on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Finally, BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $718.00.

Intuit Trading Down 6.2 %

Shares of NASDAQ INTU opened at $561.53 on Monday. Intuit Inc. has a fifty-two week low of $533.55 and a fifty-two week high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $156.98 billion, a price-to-earnings ratio of 54.52, a PEG ratio of 2.85 and a beta of 1.25. The business’s 50 day moving average price is $595.64 and its 200-day moving average price is $620.70.

Intuit Announces Dividend

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 given a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.74%. Intuit’s dividend payout ratio (DPR) is 38.81%.

Intuit Company 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.