Intuit Inc. (NASDAQ:INTU) is Unisphere Establishment’s 2nd Largest Position

Unisphere Establishment grew its position in Intuit Inc. (NASDAQ:INTU) by 50.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,500,000 shares of the software maker’s stock after acquiring an additional 500,000 shares during the quarter. Intuit comprises about 8.2% of Unisphere Establishment’s portfolio, making the stock its 2nd largest position. Unisphere Establishment’s holdings in Intuit were worth $942,750,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Intuit during the fourth quarter worth $25,000. NewSquare Capital LLC lifted its holdings in Intuit by 72.0% during 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 in the last quarter. Heck Capital Advisors LLC purchased a new stake in Intuit in the 4th quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit in the 4th quarter worth about $28,000. Finally, Summit Securities Group LLC purchased a new position in shares of Intuit during the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the topic of several research analyst reports. Scotiabank raised Intuit from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $600.00 to $700.00 in a research note on Thursday, April 17th. Piper Sandler reissued an “overweight” rating and set a $785.00 price target (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 price objective for the company in a report on Wednesday, April 23rd. Citigroup dropped their target price on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Morgan Stanley cut their price objective on shares of Intuit from $730.00 to $720.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $717.53.

Intuit Trading Up 0.8 %

Shares of Intuit stock opened at $623.15 on Wednesday. The firm has a 50-day simple moving average of $595.08 and a two-hundred day simple moving average of $616.14. The company has a market cap of $174.21 billion, a P/E ratio of 60.50, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $714.78. 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 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. The ex-dividend date was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

Insiders Place Their Bets

In related news, Director Eve B. Burton sold 1,702 shares of the company’s 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 completion of the transaction, the director now owns 8 shares in the company, valued at $4,800. This represents a 99.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the transaction, the executive vice president now owns 21,882 shares of the company’s stock, valued at approximately $13,401,849.72. This trade represents a 27.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,696 shares of company stock worth $14,347,731. Company insiders own 2.68% of the company’s stock.

Intuit 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.