Intuit Inc. (NASDAQ:INTU) Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 2.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,840 shares of the software maker’s stock after buying an additional 1,039 shares during the period. Cetera Investment Advisers’ holdings in Intuit were worth $30,067,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. R Squared Ltd purchased a new stake in shares of Intuit in the fourth quarter valued at about $25,000. NewSquare Capital LLC grew its stake in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after buying an additional 18 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Heck Capital Advisors LLC purchased a new stake in shares of Intuit during the 4th quarter valued at approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Intuit in the fourth quarter valued at approximately $28,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Performance

Shares of Intuit stock opened at $640.98 on Thursday. The business has a 50-day simple moving average of $600.16 and a 200-day simple moving average of $616.82. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a one year low of $532.65 and a one year high of $714.78. The company has a market cap of $179.19 billion, a PE ratio of 62.23, a P/E/G ratio of 2.85 and a beta of 1.24.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Thursday, April 10th. Intuit’s dividend payout ratio is presently 38.81%.

Insider Activity

In other news, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eve B. Burton sold 1,702 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now directly owns 8 shares in the company, valued at $4,800. This trade represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Oppenheimer cut their target price on Intuit from $722.00 to $642.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. Mizuho lifted their price target on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Finally, Hsbc Global Res upgraded shares of Intuit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $717.53.

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.