Level Four Advisory Services LLC Has $1.05 Million Position in Intuit Inc. (NASDAQ:INTU)

Level Four Advisory Services LLC increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 5.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,668 shares of the software maker’s stock after purchasing an additional 89 shares during the period. Level Four Advisory Services LLC’s holdings in Intuit were worth $1,049,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in shares of Intuit in the 4th quarter valued at $25,000. NewSquare Capital LLC grew its position in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit during the 4th quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Intuit during the fourth quarter worth about $29,000. 83.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

INTU has been the subject of a number of research reports. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and raised their price target for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Redburn Atlantic initiated coverage on Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. Scotiabank cut their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Finally, Citigroup reduced their price target on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $721.61.

Intuit Price Performance

Shares of NASDAQ INTU opened at $598.92 on Friday. The firm has a market capitalization of $167.44 billion, a P/E ratio of 58.15, a P/E/G ratio of 2.85 and a beta of 1.27. The firm’s 50-day moving average price is $595.90 and its 200-day moving average price is $622.38. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78.

Intuit Announces Dividend

The company 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 $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s payout ratio is currently 38.81%.

Insider Buying and Selling at Intuit

In related news, CFO Sandeep Aujla sold 109 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the transaction, the chief financial officer now directly owns 1,944 shares in the company, valued at $1,221,804. This trade represents a 5.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the sale, the chief executive officer now owns 35,776 shares of the company’s stock, 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 quarter, insiders sold 132,896 shares of company stock valued at $82,946,716. Company insiders own 2.68% of the company’s stock.

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.