HighTower Advisors LLC Has $39.17 Million Holdings in Intuit Inc. (NASDAQ:INTU)

HighTower Advisors LLC increased its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 7.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,319 shares of the software maker's stock after acquiring an additional 4,144 shares during the period. HighTower Advisors LLC's holdings in Intuit were worth $39,167,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Moors & Cabot Inc. raised its holdings in shares of Intuit by 10.0% in the 4th quarter. Moors & Cabot Inc. now owns 723 shares of the software maker's stock worth $455,000 after acquiring an additional 66 shares during the last quarter. Natural Investments LLC acquired a new stake in shares of Intuit in the 4th quarter worth about $577,000. Avantax Planning Partners Inc. raised its holdings in shares of Intuit by 20.0% in the 4th quarter. Avantax Planning Partners Inc. now owns 1,012 shares of the software maker's stock worth $636,000 after acquiring an additional 169 shares during the last quarter. Donaldson Capital Management LLC raised its holdings in shares of Intuit by 1.6% in the 4th quarter. Donaldson Capital Management LLC now owns 10,779 shares of the software maker's stock worth $6,774,000 after acquiring an additional 169 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its holdings in shares of Intuit by 5.1% in the 4th quarter. Citizens Financial Group Inc. RI now owns 14,112 shares of the software maker's stock worth $8,869,000 after acquiring an additional 689 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Stock Down 1.7 %

INTU opened at $581.32 on Friday. The company has a 50 day moving average of $598.85 and a 200 day moving average of $623.76. The company has a market cap of $162.51 billion, a PE ratio of 56.44, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a 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 Buying and Selling

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of the firm's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the transaction, the executive vice president now directly owns 30,010 shares of the company's stock, valued at $18,414,736.20. This trade represents a 13.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Scott D. Cook sold 73,655 shares of the firm's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the completion of the transaction, the insider now directly owns 6,301,286 shares of the company's stock, valued at approximately $4,189,977,112.84. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,301 shares of company stock valued at $121,470,200. Company insiders own 2.68% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on INTU. JPMorgan Chase & Co. upgraded shares of Intuit from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Barclays decreased their price objective on shares of Intuit from $800.00 to $775.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group increased their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, November 22nd. BNP Paribas lowered shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price objective for the company. in a research note on Wednesday, January 15th. Finally, Morgan Stanley upgraded shares of Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 price objective for the company in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Intuit has a consensus rating of "Moderate Buy" and an average price target of $721.61.

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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.

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