Intuit Inc. (NASDAQ:INTU) Shares Acquired by NewSquare Capital LLC

NewSquare Capital LLC boosted its stake in Intuit Inc. (NASDAQ:INTU) by 72.0% during the 4th quarter, HoldingsChannel reports. The fund owned 43 shares of the software maker’s stock after buying an additional 18 shares during the period. NewSquare Capital LLC’s holdings in Intuit were worth $27,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its stake in shares of Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares during the period. Whalen Wealth Management Inc. bought a new stake in Intuit during the 4th quarter valued at $621,000. Harvest Portfolios Group Inc. boosted its position in Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after acquiring an additional 1,853 shares during the period. Retireful LLC bought a new position in shares of Intuit in the third quarter worth $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Intuit during the third quarter valued at $56,144,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Up 3.3 %

INTU stock opened at $617.51 on Thursday. The company’s 50 day simple moving average is $603.65 and its 200-day simple moving average is $626.24. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $172.63 billion, a P/E ratio of 59.95, a P/E/G ratio of 2.85 and a beta of 1.24.

Intuit Announces Dividend

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 issued a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. Intuit’s payout ratio is currently 38.81%.

Insider Transactions at Intuit

In other news, EVP Laura A. Fennell sold 7,700 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total value of $5,063,828.00. Following the completion of the sale, the executive vice president now directly owns 33,916 shares of the company’s stock, valued at $22,304,518.24. This represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares of the company’s stock, valued at approximately $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 220,811 shares of company stock valued at $142,391,012 over the last quarter. Company insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on INTU. Mizuho upped their price objective on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday. Jefferies Financial Group upped their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and set a $785.00 price objective (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Redburn Atlantic assumed coverage on Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, Citigroup dropped their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average target price of $721.61.

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.