Independent Advisor Alliance Buys 1,665 Shares of Intuit Inc. (NASDAQ:INTU)

Independent Advisor Alliance raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 19.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,196 shares of the software maker’s stock after purchasing an additional 1,665 shares during the period. Independent Advisor Alliance’s holdings in Intuit were worth $6,408,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. R Squared Ltd bought a new position in Intuit during the 4th quarter worth $25,000. NewSquare Capital LLC raised its position in Intuit by 72.0% during the 4th 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 Intuit during the 4th quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit during the 4th quarter worth $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in Intuit during the 4th quarter worth $29,000. 83.66% of the stock is owned by institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 213,111 shares of company stock worth $137,327,184. Insiders own 2.68% of the company’s stock.

Intuit Price Performance

INTU stock opened at $579.78 on Tuesday. The company has a market capitalization of $162.08 billion, a P/E ratio of 56.29, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The business has a 50-day simple moving average of $601.27 and a two-hundred day simple moving average of $624.52.

Intuit Dividend Announcement

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 paid a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.72%. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on INTU shares. Piper Sandler reissued an “overweight” rating and issued a $785.00 price objective (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. BMO Capital Markets lowered their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a research report on Wednesday, February 26th. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Redburn Atlantic started coverage on Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. One 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $721.61.

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.