Rossby Financial LCC Makes New Investment in Intuit Inc. (NASDAQ:INTU)

Rossby Financial LCC purchased a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 807 shares of the software maker's stock, valued at approximately $507,000.

Other hedge funds have also added to or reduced their stakes in the company. LTS One Management LP increased its position in Intuit by 10.5% during the 4th quarter. LTS One Management LP now owns 31,500 shares of the software maker's stock worth $19,798,000 after buying an additional 3,000 shares during the period. Chiron Investment Management LLC acquired a new position in shares of Intuit during the 4th quarter worth approximately $3,939,000. Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of Intuit during the fourth quarter worth approximately $19,873,000. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $13,708,000. Finally, Value Partners Investments Inc. boosted its stake in shares of Intuit by 1.8% in the fourth quarter. Value Partners Investments Inc. now owns 3,363 shares of the software maker's stock valued at $2,114,000 after buying an additional 59 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Trading Down 0.5 %

NASDAQ INTU traded down $2.70 on Friday, hitting $585.38. The company's stock had a trading volume of 1,639,806 shares, compared to its average volume of 1,575,512. The company's 50-day moving average is $592.03 and its 200 day moving average is $616.49. The firm has a market cap of $163.65 billion, a PE ratio of 56.83, a PEG ratio of 2.85 and a beta of 1.25. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $714.78. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.71%. The ex-dividend date was Thursday, April 10th. Intuit's dividend payout ratio is currently 38.81%.

Insiders Place Their Bets

In other news, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now directly 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 document filed with the SEC, which is available through the SEC website. Also, EVP Marianna Tessel sold 7,385 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the completion of the transaction, the executive vice president now owns 40,190 shares in the company, valued at approximately $24,119,224.70. The trade was a 15.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Citigroup dropped their price objective on Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Redburn Atlantic assumed coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a "neutral" rating on the stock. StockNews.com cut shares of Intuit from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. BMO Capital Markets reduced their price target on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group lowered their price objective on shares of Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $718.56.

Intuit 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.