Alight Capital Management LP Purchases Shares of 10,000 Intuit Inc. (NASDAQ:INTU)

Alight Capital Management LP bought a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,000 shares of the software maker's stock, valued at approximately $6,285,000. Intuit comprises 2.1% of Alight Capital Management LP's investment portfolio, making the stock its 17th biggest position.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Intuit in the 4th quarter valued at $2,290,419,000. Proficio Capital Partners LLC grew its stake in Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock worth $668,595,000 after purchasing an additional 1,062,847 shares during the period. Wellington Management Group LLP increased its holdings in Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after purchasing an additional 620,559 shares in the last quarter. Unisphere Establishment grew its position in shares of Intuit by 50.0% during the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock worth $942,750,000 after buying an additional 500,000 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Intuit by 17.3% during the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock valued at $2,118,682,000 after acquiring an additional 498,030 shares during the period. Institutional investors own 83.66% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on INTU. Morgan Stanley reduced their target price on Intuit from $730.00 to $720.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Hsbc Global Res upgraded shares of Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Redburn Atlantic started coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a "neutral" rating for the company. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective for the company in a report on Wednesday, April 23rd. Finally, Mizuho lifted their price objective on shares of Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $717.53.

Intuit Price Performance

NASDAQ INTU traded up $0.50 on Monday, hitting $632.18. The stock had a trading volume of 1,433,375 shares, compared to its average volume of 1,583,809. The firm has a 50-day moving average of $598.96 and a 200-day moving average of $616.46. The company has a market capitalization of $176.73 billion, a price-to-earnings ratio of 61.38, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $714.78.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit's payout ratio is 38.81%.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was 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 in the company, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares of the company's stock, valued at $4,800. The trade was a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is owned by corporate insiders.

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.