AdvisorShares Investments LLC Has $6.97 Million Position in Intuit Inc. (NASDAQ:INTU)

AdvisorShares Investments LLC raised its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 16.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,095 shares of the software maker's stock after buying an additional 1,582 shares during the quarter. Intuit comprises 1.3% of AdvisorShares Investments LLC's portfolio, making the stock its 25th biggest holding. AdvisorShares Investments LLC's holdings in Intuit were worth $6,973,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. R Squared Ltd acquired a new stake in shares of Intuit during the fourth quarter worth $25,000. NewSquare Capital LLC lifted its position in Intuit by 72.0% during the 4th 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. Summit Securities Group LLC purchased a new stake in Intuit during the 4th quarter valued at about $28,000. Heck Capital Advisors LLC purchased a new stake in Intuit during the 4th quarter valued at about $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit in the fourth quarter worth about $28,000. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on INTU shares. JPMorgan Chase & Co. upgraded Intuit from a "neutral" rating to an "overweight" rating and upped their target price for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. BNP Paribas downgraded shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price objective on the stock. in a report on Wednesday, January 15th. Citigroup reduced their target price on shares of Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Piper Sandler reaffirmed an "overweight" rating and issued a $785.00 price target (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Finally, Redburn Atlantic assumed coverage on Intuit in a report on Wednesday, February 19th. They issued a "neutral" rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $717.53.

Intuit Trading Up 1.4 %

Shares of INTU stock traded up $8.49 during trading hours on Friday, hitting $631.68. 1,367,187 shares of the company were exchanged, compared to its average volume of 1,582,510. The firm has a market cap of $176.59 billion, a PE ratio of 61.33, a PEG ratio of 2.85 and a beta of 1.25. The firm has a fifty day moving average of $598.96 and a 200 day moving average of $616.36. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $714.78. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were issued a dividend of $1.04 per share. The ex-dividend date was Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.66%. Intuit's payout ratio is currently 38.81%.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now owns 6,219,900 shares of the company's stock, valued at $3,758,436,774. The trade was a 0.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the business's 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 sale, the director now owns 8 shares in the company, valued at $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is currently owned by company insiders.

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.