Intuit Inc. (NASDAQ:INTU) Shares Acquired by Vident Advisory LLC

Vident Advisory LLC raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 548.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,430 shares of the software maker’s stock after purchasing an additional 32,500 shares during the quarter. Vident Advisory LLC’s holdings in Intuit were worth $24,153,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. R Squared Ltd acquired a new stake in Intuit in the fourth quarter valued at $25,000. NewSquare Capital LLC lifted 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 purchasing an additional 18 shares during the last quarter. Heck Capital Advisors LLC bought a new position in shares of Intuit during the fourth quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Intuit in the fourth quarter worth about $28,000. Finally, Summit Securities Group LLC bought a new stake in Intuit in the fourth quarter valued at about $28,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intuit

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the transaction, the executive vice president now owns 21,882 shares of the company’s stock, valued at $13,401,849.72. This represents a 27.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eve B. Burton sold 1,702 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was 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 of the company’s stock, valued at $4,800. This represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock worth $14,347,731 in the last ninety days. 2.68% of the stock is currently owned by insiders.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $670.28 on Monday. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $714.78. The company has a market cap of $187.38 billion, a P/E ratio of 65.08, a P/E/G ratio of 2.85 and a beta of 1.24. The business’s 50 day moving average is $608.44 and its two-hundred day moving average is $619.21. 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 Announces Dividend

The business also recently announced 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 yield of 0.62%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Redburn Atlantic assumed coverage on Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. Oppenheimer lowered their price objective on Intuit from $722.00 to $642.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Morgan Stanley reduced their price target on Intuit from $730.00 to $720.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. HSBC raised Intuit from a “hold” rating to a “buy” rating and set a $699.00 price objective for the company in a research note on Wednesday, April 23rd. Finally, Citigroup lowered their price target on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. One 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $720.16.

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.