Intuit Inc. (NASDAQ:INTU) Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 41.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,298 shares of the software maker’s stock after buying an additional 671 shares during the period. Edgestream Partners L.P.’s holdings in Intuit were worth $1,444,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Intuit during the fourth quarter worth $25,000. NewSquare Capital LLC boosted its stake in 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 last quarter. Heck Capital Advisors LLC acquired a new position in Intuit during the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit in the 4th quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of Intuit in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the transaction, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. This represents a 97.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 213,111 shares of company stock worth $137,327,184 in the last quarter. 2.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on INTU. Oppenheimer upped their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Scotiabank decreased their price target on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 price target (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and upped their price target for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Finally, StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

Intuit Price Performance

Shares of NASDAQ INTU opened at $579.78 on Tuesday. The stock’s 50-day moving average is $601.27 and its two-hundred day moving average is $624.52. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78. The company has a market cap of $162.08 billion, a price-to-earnings ratio of 56.29, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.72%. Intuit’s dividend payout ratio (DPR) is 38.81%.

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.