Rossby Financial LCC Buys New Shares in Intuit Inc. (NASDAQ:INTU)

Rossby Financial LCC purchased a new position in Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 807 shares of the software maker’s stock, valued at approximately $507,000.

Several other institutional investors also recently modified their holdings of INTU. R Squared Ltd purchased a new stake in shares of Intuit during the fourth quarter valued at $25,000. NewSquare Capital LLC lifted its holdings in shares of 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 purchasing an additional 18 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in Intuit during the 4th quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit during the fourth quarter worth approximately $28,000. Finally, Summit Securities Group LLC purchased a new position in shares of Intuit during the 4th quarter valued at $28,000. Institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

NASDAQ:INTU opened at $587.04 on Monday. 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 stock has a market cap of $164.11 billion, a P/E ratio of 56.99, a PEG ratio of 2.85 and a beta of 1.25. The company has a fifty day moving average price of $591.70 and a 200 day moving average price of $617.42. Intuit Inc. has a one year low of $532.65 and a one year high of $714.78.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $785.00 price objective (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a report on Wednesday, January 15th. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Citigroup reduced their target price on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Scotiabank dropped their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $713.56.

Insider Buying and Selling at Intuit

In other news, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the transaction, the executive vice president now owns 21,882 shares in the company, valued at approximately $13,401,849.72. This represents a 27.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the sale, the director now owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock valued at $14,347,731 in the last quarter. Corporate insiders own 2.68% of the company’s stock.

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.