Legal Advantage Investments Inc. Has $4.69 Million Position in Intuit Inc. (NASDAQ:INTU)

Legal Advantage Investments Inc. reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,466 shares of the software maker’s stock after selling 87 shares during the quarter. Intuit comprises 2.5% of Legal Advantage Investments Inc.’s holdings, making the stock its 11th largest position. Legal Advantage Investments Inc.’s holdings in Intuit were worth $4,692,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Aspiriant LLC bought a new stake in shares of Intuit during the fourth quarter worth $389,000. Sugar Maple Asset Management LLC bought a new position in Intuit in the fourth quarter valued at about $29,000. Pure Financial Advisors LLC bought a new position in Intuit in the fourth quarter valued at about $204,000. Addenda Capital Inc. boosted its holdings in Intuit by 41.2% in the fourth quarter. Addenda Capital Inc. now owns 23,247 shares of the software maker’s stock valued at $14,611,000 after acquiring an additional 6,786 shares during the last quarter. Finally, Koshinski Asset Management Inc. boosted its holdings in Intuit by 11.9% in the fourth quarter. Koshinski Asset Management Inc. now owns 1,090 shares of the software maker’s stock valued at $685,000 after acquiring an additional 116 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INTU has been the topic of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. Stifel Nicolaus decreased their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group raised their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Scotiabank began coverage on Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Finally, Piper Sandler restated an “overweight” rating and set a $765.00 target price on shares of Intuit in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $604.13 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The stock has a 50 day moving average of $646.09 and a 200-day moving average of $636.77. The company has a market capitalization of $169.11 billion, a P/E ratio of 58.65, a P/E/G ratio of 2.98 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 EPS. As a group, equities research analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid a $1.04 dividend. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Insider Activity at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 3,649 shares of Intuit stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the transaction, the executive vice president now directly owns 19 shares of the company’s stock, valued at $12,286.92. The trade was a 99.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock worth $188,992,187 in the last ninety days. 2.68% of the stock is 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.