Alteri Wealth LLC Buys Shares of 1,305 Intuit Inc. (NASDAQ:INTU)

Alteri Wealth LLC purchased a new position in Intuit Inc. (NASDAQ:INTU - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,305 shares of the software maker's stock, valued at approximately $820,000.

Several other hedge funds also recently made changes to their positions in INTU. Norges Bank purchased a new position in Intuit during the 4th quarter valued at about $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 valued at $668,595,000 after acquiring an additional 1,062,847 shares in the last quarter. Wellington Management Group LLP increased its holdings in Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after acquiring an additional 620,559 shares during the period. Unisphere Establishment lifted its stake in Intuit by 50.0% in the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock worth $942,750,000 after purchasing an additional 500,000 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Intuit by 17.3% in 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 purchasing an additional 498,030 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Up 1.4 %

Shares of Intuit stock opened at $631.68 on Friday. 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. The company's 50 day moving average price is $598.96 and its 200-day moving average price is $616.36. The stock has a market capitalization of $176.59 billion, a price-to-earnings ratio of 61.33, a P/E/G ratio of 2.85 and a beta of 1.25.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Thursday, April 10th. Intuit's dividend payout ratio (DPR) is presently 38.81%.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 6,446 shares of the business'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 transaction, the insider now owns 6,219,900 shares in the company, valued at $3,758,436,774. The trade was a 0.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Marianna Tessel sold 7,385 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $600.13, for a total value of $4,431,960.05. Following the completion of the sale, the executive vice president now owns 40,190 shares of the company's stock, valued at approximately $24,119,224.70. This trade represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on INTU. Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and increased their price objective for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. Redburn Atlantic initiated coverage on Intuit in a report on Wednesday, February 19th. They issued a "neutral" rating on the stock. Oppenheimer cut their price objective on Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a report on Friday, April 11th. BNP Paribas lowered shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 target price for the company. in a research report on Wednesday, January 15th. Finally, Jefferies Financial Group cut their price target on shares of Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a research note on Monday, March 31st. One 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 data from MarketBeat, Intuit currently has a consensus rating of "Moderate Buy" and an average target price of $717.53.

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.

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