Intuit Inc. (NASDAQ:INTU) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC increased its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 64,347 shares of the software maker's stock after buying an additional 3,150 shares during the quarter. AQR Capital Management LLC's holdings in Intuit were worth $40,442,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. R Squared Ltd acquired a new stake in shares of Intuit during the fourth quarter valued at about $25,000. NewSquare Capital LLC grew its stake in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit in the 4th quarter valued at approximately $28,000. Finally, Summit Securities Group LLC acquired a new position in shares of Intuit in the 4th quarter valued at approximately $28,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Redburn Atlantic began coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a "neutral" rating for the company. Oppenheimer dropped their target price 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. Citigroup reduced their price target on shares of Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. BNP Paribas lowered Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. upgraded Intuit from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $717.53.

Insider Buying and Selling

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the firm'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 transaction, the insider now owns 6,219,900 shares of the company's stock, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,696 shares of company stock valued at $14,347,731 over the last quarter. Corporate insiders own 2.68% of the company's stock.

Intuit Price Performance

Intuit stock traded up $10.15 during trading hours on Wednesday, hitting $636.70. 887,539 shares of the company traded hands, compared to its average volume of 1,581,840. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $714.78. The firm has a market cap of $178.00 billion, a P/E ratio of 61.84, a P/E/G ratio of 2.85 and a beta of 1.24. The firm's 50-day simple moving average is $599.61 and its two-hundred day simple moving average is $616.66. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.65%. Intuit's dividend payout ratio is presently 38.81%.

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.