Cetera Investment Advisers Acquires 1,039 Shares of Intuit Inc. (NASDAQ:INTU)

Cetera Investment Advisers grew its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,840 shares of the software maker's stock after buying an additional 1,039 shares during the period. Cetera Investment Advisers' holdings in Intuit were worth $30,067,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. R Squared Ltd bought a new position in Intuit in the fourth quarter valued at approximately $25,000. NewSquare Capital LLC raised its holdings in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after acquiring an additional 18 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit during the fourth quarter worth $28,000. Finally, Summit Securities Group LLC bought a new position in Intuit in the fourth quarter valued at $28,000. Institutional investors own 83.66% of the company's stock.

Intuit Price Performance

Shares of INTU stock traded up $8.42 during trading hours on Monday, hitting $662.30. 1,838,501 shares of the company's stock were exchanged, compared to its average volume of 1,595,620. The company has a market capitalization of $185.15 billion, a PE ratio of 64.30, a PEG ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $714.78. The business's 50 day simple moving average is $602.37 and its 200-day simple moving average is $617.62. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit's dividend payout ratio is 38.81%.

Analysts Set New Price Targets

A number of research firms recently weighed in on INTU. Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Jefferies Financial Group decreased their price objective on shares of Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a research report on Monday, March 31st. BMO Capital Markets decreased their price objective on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Scotiabank raised shares of Intuit from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. Finally, 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 research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $717.53.

Insider Transactions at Intuit

In related news, EVP Laura A. Fennell sold 8,163 shares of Intuit 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 sale, the executive vice president now owns 21,882 shares in the company, valued at $13,401,849.72. The trade was a 27.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eve B. Burton sold 1,702 shares of Intuit 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 sale, the director now owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,696 shares of company stock worth $14,347,731. Insiders own 2.68% of the company's stock.

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.