NorthRock Partners LLC Boosts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

NorthRock Partners LLC raised its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 227.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,302 shares of the software maker's stock after acquiring an additional 2,295 shares during the quarter. NorthRock Partners LLC's holdings in Intuit were worth $2,075,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in shares of Intuit during the fourth quarter worth $25,000. NewSquare Capital LLC increased its position 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 buying 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 acquired a new stake in Intuit in the fourth quarter worth $28,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on INTU. Redburn Atlantic began coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a "neutral" rating for the company. Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and raised their price target for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. Jefferies Financial Group reduced their price target on shares of Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a report on Monday, March 31st. Hsbc Global Res upgraded shares of Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Finally, BMO Capital Markets reduced their price target on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $720.16.

Intuit Stock Up 1.4%

Shares of INTU traded up $8.97 during trading hours on Friday, reaching $670.28. 1,555,132 shares of the stock traded hands, compared to its average volume of 1,606,742. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $608.44 and a 200 day simple moving average of $619.16. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $714.78. The company has a market cap of $187.38 billion, a price-to-earnings ratio of 65.08, a PEG ratio of 2.85 and a beta of 1.24.

Intuit Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Thursday, April 10th. Intuit's payout ratio is currently 38.81%.

Insider Activity at Intuit

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction dated 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 of the company's stock, valued at approximately $13,401,849.72. The trade was a 27.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the completion of the sale, the executive vice president now directly owns 40,190 shares in the company, valued at approximately $24,119,224.70. This represents a 15.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock valued at $14,347,731 over the last ninety days. Corporate 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.