Davis R M Inc. Has $87.79 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Davis R M Inc. lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 139,684 shares of the software maker’s stock after purchasing an additional 413 shares during the period. Intuit accounts for 1.7% of Davis R M Inc.’s holdings, making the stock its 14th biggest holding. Davis R M Inc.’s holdings in Intuit were worth $87,792,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of INTU. R Squared Ltd acquired a new position in shares of Intuit during the fourth quarter worth $25,000. NewSquare Capital LLC lifted its holdings in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares during the period. Heck Capital Advisors LLC acquired a new position in shares of Intuit during the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit during the fourth quarter worth $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in Intuit during the fourth quarter worth $29,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Down 4.9 %

Shares of NASDAQ INTU opened at $579.78 on Tuesday. The stock has a market capitalization of $162.08 billion, a P/E ratio of 56.29, a P/E/G ratio of 2.85 and a beta of 1.27. The company has a 50-day moving average price of $601.27 and a 200-day moving average price of $624.52. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. BMO Capital Markets lowered their target price on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Redburn Atlantic initiated coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Finally, Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price for the company in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $721.61.

Insider Buying and Selling

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. 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 6,446 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 213,111 shares of company stock worth $137,327,184. 2.68% of the stock is owned by insiders.

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.