Tidal Investments LLC Purchases 2,434 Shares of Intuit Inc. (NASDAQ:INTU)

Tidal Investments LLC increased its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 17.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,789 shares of the software maker's stock after buying an additional 2,434 shares during the quarter. Tidal Investments LLC's holdings in Intuit were worth $10,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. R Squared Ltd bought a new stake in Intuit in the 4th quarter worth approximately $25,000. NewSquare Capital LLC lifted its position in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after buying an additional 18 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in Intuit in the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit in the 4th quarter worth approximately $28,000. Finally, Summit Securities Group LLC bought a new stake in Intuit in the 4th quarter worth approximately $28,000. Institutional investors own 83.66% of the company's stock.

Intuit Stock Up 0.1%

NASDAQ INTU opened at $670.86 on Tuesday. 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 Inc. has a 52 week low of $532.65 and a 52 week high of $714.78. The stock's 50-day moving average price is $610.04 and its 200-day moving average price is $619.55. The company has a market capitalization of $187.55 billion, a P/E ratio of 65.13, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit's dividend payout ratio is currently 38.81%.

Insider Buying and Selling

In related news, Director Eve B. Burton sold 1,702 shares of the stock in a transaction dated Thursday, March 20th. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction dated Monday, March 24th. The stock was 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 of the company's stock, valued at $13,401,849.72. This represents a 27.17% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on INTU. JPMorgan Chase & Co. upgraded Intuit from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. Piper Sandler reiterated an "overweight" rating and issued a $785.00 price objective (up previously from $765.00) on shares of Intuit 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, Mizuho boosted their price objective on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $720.16.

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.

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