Commerzbank Aktiengesellschaft FI Grows Position in Intuit Inc. (NASDAQ:INTU)

Commerzbank Aktiengesellschaft FI boosted its stake in Intuit Inc. (NASDAQ:INTU) by 27.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,342 shares of the software maker’s stock after buying an additional 511 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Intuit were worth $1,477,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its stake in Intuit by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,759,171 shares of the software maker’s stock valued at $1,105,639,000 after purchasing an additional 70,726 shares during the period. Steward Partners Investment Advisory LLC grew its stake in Intuit by 0.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,478 shares of the software maker’s stock valued at $9,728,000 after purchasing an additional 136 shares during the period. Scratch Capital LLC bought a new position in Intuit in the 4th quarter valued at $754,000. Meridian Wealth Management LLC grew its stake in Intuit by 4.4% in the 4th quarter. Meridian Wealth Management LLC now owns 1,213 shares of the software maker’s stock valued at $762,000 after purchasing an additional 51 shares during the period. Finally, Fidelis Capital Partners LLC grew its stake in Intuit by 14.9% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,716 shares of the software maker’s stock valued at $1,031,000 after purchasing an additional 222 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Performance

NASDAQ:INTU opened at $598.07 on Wednesday. The business’s 50-day moving average price is $604.21 and its two-hundred day moving average price is $626.30. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The stock has a market cap of $167.20 billion, a P/E ratio of 58.07, a PEG ratio of 2.85 and a beta of 1.24. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders 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 0.70%. Intuit’s payout ratio is currently 38.81%.

Insider Buying and Selling at Intuit

In related news, CFO Sandeep Aujla sold 109 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the transaction, the chief financial officer now directly owns 1,944 shares in the company, valued at $1,221,804. This trade represents a 5.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 73,655 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the transaction, the insider now owns 6,301,286 shares in the company, valued at approximately $4,189,977,112.84. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 224,460 shares of company stock valued at $144,750,747 in the last 90 days. Corporate insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research note on Wednesday, January 15th. Piper Sandler reiterated an “overweight” rating and set a $785.00 price target (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Stifel Nicolaus cut their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. BMO Capital Markets cut their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Finally, Barclays cut their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $720.50.

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.