Abacus FCF Advisors LLC Has $8 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Abacus FCF Advisors LLC boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 45.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,721 shares of the software maker's stock after purchasing an additional 3,968 shares during the quarter. Intuit comprises approximately 1.1% of Abacus FCF Advisors LLC's holdings, making the stock its 24th largest position. Abacus FCF Advisors LLC's holdings in Intuit were worth $7,995,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dunhill Financial LLC raised its stake in Intuit by 110.3% during the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker's stock valued at $38,000 after purchasing an additional 32 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Intuit during the 3rd quarter worth about $4,479,000. Nomura Asset Management Co. Ltd. raised its position in shares of Intuit by 7.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 97,131 shares of the software maker's stock valued at $60,318,000 after buying an additional 6,353 shares during the last quarter. Groupama Asset Managment lifted its stake in shares of Intuit by 10.6% in the third quarter. Groupama Asset Managment now owns 7,517 shares of the software maker's stock valued at $47,000 after buying an additional 720 shares during the period. Finally, SGL Investment Advisors Inc. acquired a new stake in Intuit during the third quarter worth about $643,000. Institutional investors and hedge funds own 83.66% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts have commented on INTU shares. Citigroup reduced their price objective on Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Piper Sandler reiterated an "overweight" rating and set a $785.00 price target (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. BNP Paribas cut 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. StockNews.com lowered shares of Intuit from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Mizuho increased their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Intuit presently has an average rating of "Moderate Buy" and an average price target of $713.56.

Intuit Price Performance

Shares of Intuit stock traded up $9.57 during trading on Friday, reaching $587.04. The company's stock had a trading volume of 1,479,882 shares, compared to its average volume of 1,568,333. The stock has a 50-day moving average price of $591.70 and a two-hundred day moving average price of $617.42. The stock has a market capitalization of $164.11 billion, a P/E ratio of 56.99, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. 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 Inc. has a one year low of $532.65 and a one year high of $714.78.

Intuit Announces Dividend

The business 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 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 0.71%. Intuit's payout ratio is 38.81%.

Insider Transactions at Intuit

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now owns 8 shares of the company's stock, valued at approximately $4,800. This represents a 99.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the sale, the insider now directly owns 6,219,900 shares of the company's stock, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. 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.

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.