Tower Research Capital LLC TRC Has $16.24 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

by · The Markets Daily

Tower Research Capital LLC TRC lifted its position in Intuit Inc. (NASDAQ:INTU – Free Report) by 165.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,835 shares of the software maker’s stock after acquiring an additional 16,119 shares during the period. Tower Research Capital LLC TRC’s holdings in Intuit were worth $16,237,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. True North Advisors LLC raised its holdings in shares of Intuit by 4.3% in the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock worth $257,000 after buying an additional 17 shares during the last quarter. Great Diamond Partners LLC increased its holdings in shares of Intuit by 2.8% during the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock valued at $394,000 after purchasing an additional 17 shares in the last quarter. Pacifica Partners Inc. raised its position in shares of Intuit by 27.7% in the fourth quarter. Pacifica Partners Inc. now owns 83 shares of the software maker’s stock worth $52,000 after acquiring an additional 18 shares during the period. Drive Wealth Management LLC grew its holdings in Intuit by 2.4% in the fourth quarter. Drive Wealth Management LLC now owns 760 shares of the software maker’s stock valued at $478,000 after purchasing an additional 18 shares during the period. Finally, NewSquare Capital LLC lifted its holdings in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Stock Performance

NASDAQ:INTU opened at $585.38 on Friday. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $714.78. The firm has a market capitalization of $163.65 billion, a PE ratio of 56.83, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The firm has a 50-day moving average price of $592.03 and a 200 day moving average price of $616.55. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on INTU shares. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a report on Wednesday, January 15th. Scotiabank raised Intuit from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $600.00 to $700.00 in a research report on Thursday. Oppenheimer dropped their price target on shares of Intuit from $722.00 to $642.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Mizuho raised their price objective on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Finally, BMO Capital Markets dropped their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average target price of $718.56.

Get Our Latest Stock Analysis on Intuit

Insider Transactions at Intuit

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now directly owns 8 shares in the company, valued at $4,800. This represents a 99.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now directly owns 6,219,900 shares of the company’s stock, 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 three months, insiders have sold 23,696 shares of company stock worth $14,347,731. Corporate insiders own 2.68% of the company’s stock.

About Intuit

(Free Report)

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.

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