Avantax Advisory Services Inc. Has $15.27 Million Stake in Intuit Inc. (NASDAQ:INTU)

Avantax Advisory Services Inc. grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 6.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,302 shares of the software maker’s stock after buying an additional 1,498 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Intuit were worth $15,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in INTU. Proficio Capital Partners LLC lifted its holdings in shares of Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after buying an additional 1,062,847 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Intuit during the 4th quarter valued at about $300,854,000. Holocene Advisors LP lifted its holdings in shares of Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after buying an additional 312,212 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after buying an additional 268,060 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after buying an additional 221,885 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 subject of several research reports. Mizuho lifted their price target on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Stifel Nicolaus reduced their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. BMO Capital Markets reduced their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, Barclays reduced their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $721.61.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $591.14 on Thursday. The company has a market cap of $165.26 billion, a P/E ratio of 57.39, a P/E/G ratio of 2.85 and a beta of 1.27. 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 12 month low of $553.24 and a 12 month high of $714.78. The business’s 50 day moving average is $599.68 and its two-hundred day moving average is $624.06.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is presently 38.81%.

Insider Activity

In other news, insider Scott D. Cook sold 73,655 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the transaction, the insider now owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. This represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the transaction, the chief executive officer now directly owns 35,776 shares in the company, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 189,301 shares of company stock worth $121,470,200. Company insiders own 2.68% of the company’s stock.

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.