Mar Vista Investment Partners LLC Grows Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Mar Vista Investment Partners LLC raised its position in Intuit Inc. (NASDAQ:INTU) by 30.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,712 shares of the software maker’s stock after purchasing an additional 18,567 shares during the quarter. Intuit accounts for approximately 3.4% of Mar Vista Investment Partners LLC’s portfolio, making the stock its 14th largest holding. Mar Vista Investment Partners LLC’s holdings in Intuit were worth $49,470,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. R Squared Ltd bought a new position in shares of Intuit during the 4th quarter valued at about $25,000. NewSquare Capital LLC boosted its holdings in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after buying an additional 18 shares during the period. Heck Capital Advisors LLC acquired a new stake in Intuit in the 4th quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit during the fourth quarter valued at about $28,000. Finally, Summit Securities Group LLC bought a new position in Intuit in the fourth quarter worth $28,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 6,446 shares of the firm’s 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 owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the sale, the executive vice president now owns 21,882 shares of the company’s stock, valued at $13,401,849.72. This trade represents a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on INTU. Oppenheimer reduced their price target on shares of Intuit from $722.00 to $642.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Scotiabank upgraded Intuit from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. Citigroup cut their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. Finally, Morgan Stanley dropped their target price on Intuit from $730.00 to $720.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $718.56.

Intuit Price Performance

Shares of INTU stock opened at $583.56 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company’s 50-day simple moving average is $591.87 and its two-hundred day simple moving average is $616.12. The company has a market capitalization of $163.14 billion, a P/E ratio of 56.66, a P/E/G ratio of 2.85 and a beta of 1.25. Intuit Inc. has a one year low of $532.65 and a one year high of $714.78.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were paid a $1.04 dividend. The ex-dividend date was Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.71%. Intuit’s dividend payout ratio (DPR) is 38.81%.

About Intuit

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.