AXQ Capital LP Acquires Shares of 925 Intuit Inc. (NASDAQ:INTU)

AXQ Capital LP bought a new position in Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 925 shares of the software maker’s stock, valued at approximately $581,000.

Other institutional investors also recently modified their holdings of the company. Prospera Financial Services Inc increased its position in shares of Intuit by 1.8% during the 3rd quarter. Prospera Financial Services Inc now owns 1,008 shares of the software maker’s stock valued at $626,000 after purchasing an additional 18 shares during the last quarter. Moors & Cabot Inc. raised its position in Intuit by 6.1% in the third quarter. Moors & Cabot Inc. now owns 657 shares of the software maker’s stock worth $408,000 after acquiring an additional 38 shares during the period. LPL Financial LLC boosted its stake in Intuit by 6.5% in the third quarter. LPL Financial LLC now owns 195,175 shares of the software maker’s stock valued at $121,203,000 after acquiring an additional 11,927 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in Intuit by 20.8% in the third quarter. Eagle Asset Management Inc. now owns 4,649 shares of the software maker’s stock valued at $3,181,000 after acquiring an additional 799 shares during the last quarter. Finally, Meridian Wealth Management LLC purchased a new stake in shares of Intuit during the 3rd quarter worth approximately $722,000. 83.66% of the stock is owned by institutional investors.

Insider Transactions at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now directly owns 8 shares in the company, valued at approximately $4,800. This represents a 99.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now owns 35,776 shares of the company’s stock, valued at $22,542,457.60. The trade was a 67.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 117,348 shares of company stock valued at $73,515,245 in the last quarter. Insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Shares of INTU opened at $604.04 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average price of $596.08 and a 200-day moving average price of $622.80. The company has a market cap of $168.87 billion, a PE ratio of 58.64, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78.

Intuit Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on INTU. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research note on Wednesday, January 15th. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price objective (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Finally, Redburn Atlantic began coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.