Intuit Inc. (NASDAQ:INTU) Stock Position Raised by Palestra Capital Management LLC

Palestra Capital Management LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 271,440 shares of the software maker's stock after purchasing an additional 1,010 shares during the period. Intuit accounts for 4.7% of Palestra Capital Management LLC's holdings, making the stock its 6th biggest holding. Palestra Capital Management LLC owned about 0.10% of Intuit worth $170,600,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. R Squared Ltd purchased a new position in shares of Intuit in the 4th quarter valued at approximately $25,000. NewSquare Capital LLC grew 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 valued at $27,000 after buying an additional 18 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Intuit in the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit during the 4th quarter worth about $28,000. Finally, Summit Securities Group LLC purchased a new stake in Intuit during the 4th quarter valued at about $28,000. Institutional investors own 83.66% of the company's stock.

Insider Activity at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of the firm's 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction dated 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 transaction, 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 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 quarter. 2.68% of the stock is owned by insiders.

Analyst Ratings Changes

INTU has been the subject of a number of recent research reports. StockNews.com raised shares of Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday. BMO Capital Markets lowered their price target on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Citigroup decreased 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. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target for the company in a research report on Wednesday, April 23rd. Finally, Redburn Atlantic started coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a "neutral" rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $717.53.

Intuit Trading Up 1.4 %

INTU stock traded up $8.49 during midday trading on Friday, hitting $631.68. 1,367,187 shares of the company's stock were exchanged, compared to its average volume of 1,584,409. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $714.78. The business has a 50-day simple moving average of $598.96 and a two-hundred day simple moving average of $616.41. 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 market capitalization of $176.59 billion, a PE ratio of 61.33, a P/E/G ratio of 2.85 and a beta of 1.25.

Intuit Announces Dividend

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

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.