Alyeska Investment Group L.P. Acquires Shares of 78,200 Intuit Inc. (NASDAQ:INTU)

Alyeska Investment Group L.P. purchased a new position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 78,200 shares of the software maker's stock, valued at approximately $49,149,000.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. BNP Paribas cut shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 target price for the company. in a report on Wednesday, January 15th. Mizuho lifted their target price on shares of Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Oppenheimer reduced their price target on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Finally, Piper Sandler reiterated an "overweight" rating and set a $785.00 price objective (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Intuit currently has an average rating of "Moderate Buy" and a consensus target price of $717.53.

Intuit Stock Down 0.9 %

NASDAQ:INTU traded down $5.63 during trading hours on Tuesday, reaching $626.55. The company's stock had a trading volume of 903,945 shares, compared to its average volume of 1,584,220. Intuit Inc. has a one year low of $532.65 and a one year high of $714.78. The business's 50-day moving average is $599.61 and its 200-day moving average is $616.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $175.16 billion, a price-to-earnings ratio of 60.83, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Intuit Dividend Announcement

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

Insider Buying and Selling at Intuit

In other news, EVP Marianna Tessel sold 7,385 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the completion of the transaction, the executive vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the transaction, the executive vice president now owns 21,882 shares of the company's stock, valued at approximately $13,401,849.72. This represents a 27.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock valued at $14,347,731 in the last 90 days. 2.68% of the stock is currently 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.