Sage Mountain Advisors LLC Buys 114 Shares of Intuit Inc. (NASDAQ:INTU)

Sage Mountain Advisors LLC raised its stake in Intuit Inc. (NASDAQ:INTU) by 9.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,282 shares of the software maker’s stock after purchasing an additional 114 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Intuit were worth $806,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in INTU. Mesirow Financial Investment Management Inc. boosted its holdings in shares of Intuit by 15.3% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 1,483 shares of the software maker’s stock worth $922,000 after purchasing an additional 197 shares in the last quarter. Baker Avenue Asset Management LP lifted its position in Intuit by 6.5% in the 3rd quarter. Baker Avenue Asset Management LP now owns 360 shares of the software maker’s stock worth $224,000 after buying an additional 22 shares during the last quarter. Catalytic Wealth RIA LLC boosted its stake in Intuit by 46.4% in the third quarter. Catalytic Wealth RIA LLC now owns 1,240 shares of the software maker’s stock worth $770,000 after buying an additional 393 shares in the last quarter. Addison Advisors LLC grew its position in Intuit by 42.0% during the third quarter. Addison Advisors LLC now owns 142 shares of the software maker’s stock valued at $88,000 after acquiring an additional 42 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its stake in shares of Intuit by 22.0% during the third quarter. Nations Financial Group Inc. IA ADV now owns 1,016 shares of the software maker’s stock worth $631,000 after acquiring an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 73,655 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the completion of the sale, the insider now directly owns 6,301,286 shares of the company’s stock, valued at approximately $4,189,977,112.84. This represents a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. This represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 213,111 shares of company stock valued at $137,327,184 over the last quarter. 2.68% of the stock is currently owned by company insiders.

Intuit Trading Up 1.2 %

NASDAQ:INTU opened at $586.71 on Wednesday. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78. The business has a fifty day moving average price of $600.43 and a 200-day moving average price of $624.29. The firm has a market capitalization of $164.02 billion, a price-to-earnings ratio of 56.96, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is 38.81%.

Wall Street Analyst Weigh In

INTU has been the subject of a number of research reports. Mizuho upped their price objective on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. Jefferies Financial Group raised their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and set a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Redburn Atlantic began coverage on Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, Oppenheimer lifted their target price 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $721.61.

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.