Focus Partners Wealth raised its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,116 shares of the software maker's stock after buying an additional 2,401 shares during the quarter. Focus Partners Wealth owned approximately 0.05% of Intuit worth $91,912,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new position in shares of Intuit in the 4th quarter valued at approximately $25,000. NewSquare Capital LLC increased its holdings in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after acquiring an additional 18 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in shares of Intuit in the 4th quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit in the 4th quarter valued at approximately $28,000. Finally, Summit Securities Group LLC bought a new stake in shares of Intuit in the 4th quarter valued at approximately $28,000. 83.66% of the stock is owned by institutional investors and hedge funds.
Intuit Stock Performance
Shares of INTU stock traded up $8.42 during mid-day trading on Monday, reaching $662.30. The stock had a trading volume of 1,841,962 shares, compared to its average volume of 1,595,635. The firm's 50 day simple moving average is $603.27 and its 200 day simple moving average is $617.99. 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 one year low of $532.65 and a one year high of $714.78. The firm has a market cap of $185.15 billion, a PE ratio of 64.30, a P/E/G ratio of 2.85 and a beta of 1.24.
Intuit Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were given a $1.04 dividend. 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 0.63%. Intuit's dividend payout ratio is currently 38.81%.
Insiders Place Their Bets
In related news, EVP Laura A. Fennell sold 8,163 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 21,882 shares in the company, valued at $13,401,849.72. This trade represents a 27.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares of the company's stock, valued at approximately $4,800. The trade was a 99.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
INTU has been the subject of a number of research analyst reports. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target for the company in a report on Wednesday, April 23rd. Hsbc Global Res upgraded Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. upgraded Intuit from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. Citigroup cut their price objective on Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Finally, Jefferies Financial Group decreased their target price on Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $717.53.
Read Our Latest Stock Analysis on INTU
About Intuit
(
Free Report)
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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