Avantax Advisory Services Inc. Purchases 1,498 Shares of Intuit Inc. (NASDAQ:INTU)

Avantax Advisory Services Inc. boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,302 shares of the software maker's stock after acquiring an additional 1,498 shares during the period. Avantax Advisory Services Inc.'s holdings in Intuit were worth $15,274,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INTU. State Street Corp lifted its holdings in shares of Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker's stock valued at $7,648,910,000 after purchasing an additional 221,885 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Intuit by 1.4% in the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker's stock valued at $3,701,762,000 after acquiring an additional 80,463 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Intuit by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker's stock worth $2,376,984,000 after acquiring an additional 107,482 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Intuit by 3.9% during the fourth quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker's stock valued at $1,499,744,000 after purchasing an additional 88,487 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Intuit by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker's stock valued at $1,428,790,000 after purchasing an additional 87,517 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on INTU shares. 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 research note on Wednesday, February 26th. StockNews.com lowered shares of Intuit from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Jefferies Financial Group lifted their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. Redburn Atlantic initiated coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a "neutral" rating on the stock. Finally, Citigroup reduced their price target on Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $721.61.

Insider Transactions at Intuit

In other Intuit news, CEO Sasan K. Goodarzi sold 75,000 shares of the business'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 transaction, the chief executive officer now owns 35,776 shares of the company's stock, valued at approximately $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 4,788 shares of Intuit stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the sale, the executive vice president now directly owns 30,010 shares in the company, valued at $18,414,736.20. This trade represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 189,301 shares of company stock valued at $121,470,200. Company insiders own 2.68% of the company's stock.

Intuit Price Performance

INTU stock traded down $9.82 during midday trading on Thursday, reaching $581.32. The company had a trading volume of 2,269,071 shares, compared to its average volume of 1,917,570. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78. The stock has a 50 day moving average price of $598.85 and a 200-day moving average price of $623.76. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $162.51 billion, a price-to-earnings ratio of 56.44, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Thursday, April 10th. Intuit's 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.