Sequoia Financial Advisors LLC Acquires 1,607 Shares of Intuit Inc. (NASDAQ:INTU)

Sequoia Financial Advisors LLC grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 11.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,136 shares of the software maker’s stock after buying an additional 1,607 shares during the period. Sequoia Financial Advisors LLC’s holdings in Intuit were worth $9,513,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. R Squared Ltd bought a new position in shares of Intuit during the 4th quarter worth approximately $25,000. NewSquare Capital LLC boosted its holdings in shares of 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 buying an additional 18 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of Intuit in the 4th quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Intuit in the 4th quarter worth $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Intuit in the 4th quarter worth $29,000. 83.66% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Scott D. Cook sold 73,655 shares of the firm’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 completion of the sale, the insider now directly owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Laura A. Fennell sold 4,788 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the sale, the executive vice president now directly owns 30,010 shares of the company’s stock, valued at approximately $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,301 shares of company stock valued at $121,470,200 in the last ninety days. 2.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of recent research reports. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price on the stock in a report on Wednesday, February 26th. Stifel Nicolaus cut their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a report on Wednesday, January 15th. BMO Capital Markets cut their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, Jefferies Financial Group increased their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $721.61.

Intuit Trading Up 0.8 %

Shares of Intuit stock opened at $591.14 on Thursday. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The firm has a market cap of $165.26 billion, a PE ratio of 57.39, a P/E/G ratio of 2.85 and a beta of 1.27. The stock has a fifty day moving average price of $599.68 and a 200-day moving average price of $624.06. 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 Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is presently 38.81%.

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.