Independent Advisor Alliance Acquires 1,665 Shares of Intuit Inc. (NASDAQ:INTU)

Independent Advisor Alliance raised its holdings in Intuit Inc. (NASDAQ:INTU) by 19.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,196 shares of the software maker’s stock after buying an additional 1,665 shares during the period. Independent Advisor Alliance’s holdings in Intuit were worth $6,408,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of INTU. R Squared Ltd bought a new stake in Intuit in the fourth quarter valued at approximately $25,000. NewSquare Capital LLC raised its stake in 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 buying an additional 18 shares during the period. Heck Capital Advisors LLC acquired a new position in shares of Intuit in the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit in the fourth quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of Intuit in the fourth quarter valued at approximately $29,000. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction on Thursday, December 12th. The stock was 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 directly owns 489 shares in the company, valued at approximately $325,664.22. This represents a 97.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the transaction, the chief executive officer now owns 35,776 shares of the company’s stock, valued at $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 213,111 shares of company stock valued at $137,327,184. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on INTU. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price on the stock in a research report on Wednesday, February 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research report on Wednesday, January 15th. Barclays decreased their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, Mizuho upped their target price on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Trading Down 4.9 %

Shares of INTU stock opened at $579.78 on Tuesday. The stock’s fifty day moving average price is $601.27 and its two-hundred day moving average price is $624.52. The company has a market cap of $162.08 billion, a PE ratio of 56.29, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a fifty-two week low of $553.24 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 firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is presently 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.