Sone Capital Management LLC Invests $13.70 Million in Intuit Inc. (NASDAQ:INTU)

Sone Capital Management LLC purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 21,791 shares of the software maker’s stock, valued at approximately $13,696,000. Intuit makes up 1.7% of Sone Capital Management LLC’s investment portfolio, making the stock its 11th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Intuit by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock valued at $16,991,696,000 after purchasing an additional 353,185 shares during the last quarter. Geode Capital Management LLC raised its holdings in Intuit by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker’s stock valued at $3,833,720,000 after buying an additional 132,384 shares during the period. Wellington Management Group LLP lifted its position in Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after buying an additional 620,559 shares during the last quarter. Norges Bank purchased a new position in Intuit during the fourth quarter worth about $2,290,419,000. Finally, Northern Trust Corp boosted its stake in Intuit by 17.3% during the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker’s stock worth $2,118,682,000 after buying an additional 498,030 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Laura A. Fennell sold 8,163 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 21,882 shares of the company’s stock, valued at approximately $13,401,849.72. The trade was a 27.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott D. Cook sold 6,446 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now owns 6,219,900 shares in the company, valued at $3,758,436,774. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on INTU shares. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. BMO Capital Markets decreased their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Jefferies Financial Group lowered their price target on Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Piper Sandler reiterated an “overweight” rating and issued a $785.00 price objective (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Finally, Redburn Atlantic initiated coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $720.16.

Intuit Stock Up 1.4%

Intuit stock opened at $670.28 on Monday. The stock has a market cap of $187.38 billion, a PE ratio of 65.08, a P/E/G ratio of 2.85 and a beta of 1.24. 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’s fifty day moving average is $608.44 and its two-hundred day moving average is $619.21. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $714.78.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.62%. Intuit’s payout ratio is currently 38.81%.

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.