Aptus Capital Advisors LLC Increases Stock Position in Intuit Inc. (NASDAQ:INTU)

Aptus Capital Advisors LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 11.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,533 shares of the software maker's stock after acquiring an additional 3,257 shares during the quarter. Aptus Capital Advisors LLC's holdings in Intuit were worth $19,190,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of INTU. AXA S.A. grew its position in shares of Intuit by 31.8% in the fourth quarter. AXA S.A. now owns 301,500 shares of the software maker's stock valued at $189,493,000 after purchasing an additional 72,683 shares in the last quarter. Alight Capital Management LP purchased a new stake in Intuit in the 4th quarter valued at $6,285,000. 4WEALTH Advisors Inc. acquired a new stake in shares of Intuit in the 4th quarter worth $361,000. Palestra Capital Management LLC increased its stake in shares of Intuit by 0.4% in the 4th quarter. Palestra Capital Management LLC now owns 271,440 shares of the software maker's stock worth $170,600,000 after acquiring an additional 1,010 shares during the last quarter. Finally, Keel Point LLC raised its holdings in shares of Intuit by 24.9% during the 4th quarter. Keel Point LLC now owns 1,926 shares of the software maker's stock worth $1,211,000 after acquiring an additional 384 shares during the period. Hedge funds and other institutional investors own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on INTU shares. Morgan Stanley cut their price objective on shares of Intuit from $730.00 to $720.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Oppenheimer cut their price target on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a report on Friday, April 11th. BMO Capital Markets reduced their price target on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Jefferies Financial Group lowered their price objective on Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, StockNews.com upgraded Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Intuit currently has a consensus rating of "Moderate Buy" and a consensus target price of $717.53.

Insider Transactions at Intuit

In related news, Director Eve B. Burton sold 1,702 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares in the company, valued at approximately $4,800. The trade was a 99.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the sale, the executive vice president now owns 21,882 shares in the company, valued at approximately $13,401,849.72. This represents a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is currently owned by corporate insiders.

Intuit Stock Up 2.3 %

Shares of Intuit stock traded up $14.43 during trading hours on Wednesday, reaching $640.98. 1,650,382 shares of the company were exchanged, compared to its average volume of 1,838,054. The firm has a market cap of $179.19 billion, a PE ratio of 62.23, a PEG ratio of 2.85 and a beta of 1.24. The stock's fifty day moving average is $599.61 and its 200 day moving average is $616.66. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $714.78. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Thursday, April 10th. Intuit's payout ratio is presently 38.81%.

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.