AXQ Capital LP Takes Position in Intuit Inc. (NASDAQ:INTU)

AXQ Capital LP acquired a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 925 shares of the software maker's stock, valued at approximately $581,000.

Several other large investors also recently modified their holdings of the company. State Street Corp boosted its position in Intuit by 1.8% during 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 acquiring an additional 221,885 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Intuit by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker's stock valued at $3,701,762,000 after purchasing an additional 80,463 shares in the last quarter. Fisher Asset Management LLC grew its stake 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 purchasing an additional 107,482 shares during the period. Bank of New York Mellon Corp increased its holdings in Intuit by 3.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker's stock worth $1,499,744,000 after purchasing an additional 88,487 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 buying an additional 87,517 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of the firm's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares of the company's stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the company's stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now directly owns 35,776 shares of the company's stock, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,896 shares of company stock valued at $82,946,716. 2.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on INTU. Redburn Atlantic initiated coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a "neutral" rating for the company. Scotiabank dropped their price objective on shares of Intuit from $700.00 to $600.00 and set a "sector perform" rating on the stock in a report on Thursday, February 27th. Morgan Stanley upgraded Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 target price for the company in a research note on Wednesday, February 26th. Citigroup decreased their target price on Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Finally, StockNews.com lowered Intuit from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. One investment 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. Based on data from MarketBeat.com, Intuit currently has an average rating of "Moderate Buy" and a consensus price target of $721.61.

Intuit Price Performance

NASDAQ:INTU traded up $0.44 during trading hours on Thursday, hitting $615.30. 1,205,595 shares of the company's stock traded hands, compared to its average volume of 1,440,665. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The business's fifty day simple moving average is $595.84 and its two-hundred day simple moving average is $622.71. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market cap of $172.01 billion, a P/E ratio of 59.74, a P/E/G ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit's dividend payout ratio (DPR) is presently 38.81%.

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.