Johnson Investment Counsel Inc. Buys 189 Shares of Intuit Inc. (NASDAQ:INTU)

Johnson Investment Counsel Inc. raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 80,943 shares of the software maker’s stock after buying an additional 189 shares during the period. Johnson Investment Counsel Inc.’s holdings in Intuit were worth $50,873,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd bought a new position in Intuit in the fourth quarter valued at about $25,000. NewSquare Capital LLC grew its holdings in Intuit by 72.0% during the fourth 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 bought a new position in shares of Intuit during the 4th quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit in the fourth quarter worth $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in Intuit in the 4th quarter worth $29,000. 83.66% of the stock is owned by institutional investors.

Intuit Stock Performance

Intuit stock opened at $609.61 on Monday. 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 50 day moving average price of $602.28 and a 200-day moving average price of $625.12. The company has a market capitalization of $170.42 billion, a PE ratio of 59.19, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. Intuit’s payout ratio is currently 38.81%.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 109 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the sale, the chief financial officer now directly owns 1,944 shares in the company, valued at approximately $1,221,804. This trade represents a 5.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares in the company, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,811 shares of company stock valued at $142,391,012. Company insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on INTU shares. Citigroup decreased their target price on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Barclays reduced their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Scotiabank cut their price objective 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. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $721.61.

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.