HBK Sorce Advisory LLC Buys 28 Shares of Intuit Inc. (NASDAQ:INTU)

by · The Markets Daily

HBK Sorce Advisory LLC boosted its stake in Intuit Inc. (NASDAQ:INTU – Free Report) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,419 shares of the software maker’s stock after purchasing an additional 28 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Intuit were worth $892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of INTU. Nordea Investment Management AB increased its stake in Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after acquiring an additional 268,060 shares during the last quarter. Whalen Wealth Management Inc. bought a new position in shares of Intuit during the 4th quarter valued at about $621,000. Retireful LLC purchased a new position in shares of Intuit during the 3rd quarter valued at about $740,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Intuit in the 3rd quarter worth approximately $56,144,000. Finally, Howe & Rusling Inc. boosted its stake in Intuit by 8.0% in the third quarter. Howe & Rusling Inc. now owns 10,857 shares of the software maker’s stock worth $6,742,000 after buying an additional 808 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Trading Down 1.7 %

INTU opened at $581.32 on Friday. 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 Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The stock has a market cap of $162.51 billion, a PE ratio of 56.44, a PEG ratio of 2.85 and a beta of 1.27. The business has a 50 day moving average of $598.85 and a 200-day moving average of $623.76.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. The trade was a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the sale, the chief executive officer now owns 35,776 shares in the company, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,301 shares of company stock valued at $121,470,200 in the last three months. 2.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on INTU shares. Barclays decreased their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Oppenheimer boosted 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. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday, January 15th. Scotiabank lowered their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Finally, Jefferies Financial Group raised their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

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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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