Aigen Investment Management LP Purchases Shares of 4,706 Intuit Inc. (NASDAQ:INTU)

Aigen Investment Management LP purchased a new position in Intuit Inc. (NASDAQ:INTU) in the fourth quarter, HoldingsChannel reports. The firm purchased 4,706 shares of the software maker’s stock, valued at approximately $2,958,000. Intuit accounts for 0.5% of Aigen Investment Management LP’s portfolio, making the stock its 29th largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Proficio Capital Partners LLC increased its stake in Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after buying an additional 1,062,847 shares in the last quarter. Holocene Advisors LP boosted its stake in shares of Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after acquiring an additional 312,212 shares during the period. Nordea Investment Management AB grew its position in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares in the last quarter. State Street Corp lifted its holdings in Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after purchasing an additional 221,885 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in Intuit during the 4th quarter valued at approximately $104,278,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Down 0.5 %

Shares of NASDAQ INTU opened at $598.07 on Wednesday. The stock has a market cap of $167.20 billion, a PE ratio of 58.07, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78. The company has a 50-day moving average of $604.21 and a 200 day moving average of $626.30.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.70%. Intuit’s dividend payout ratio is presently 38.81%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on INTU. Barclays dropped their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Oppenheimer raised their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Redburn Atlantic started coverage on Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a report on Wednesday, January 15th. Finally, BMO Capital Markets decreased their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $720.50.

Insider Buying and Selling

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now owns 489 shares in the company, valued at $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 224,460 shares of company stock worth $144,750,747. 2.68% of the stock is owned by corporate insiders.

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.