Tower Research Capital LLC TRC Has $16.24 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Tower Research Capital LLC TRC lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 165.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,835 shares of the software maker's stock after purchasing an additional 16,119 shares during the quarter. Tower Research Capital LLC TRC's holdings in Intuit were worth $16,237,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. True North Advisors LLC lifted its holdings in shares of Intuit by 4.3% in the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker's stock valued at $257,000 after purchasing an additional 17 shares in the last quarter. Great Diamond Partners LLC lifted its stake in Intuit by 2.8% in the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker's stock valued at $394,000 after acquiring an additional 17 shares in the last quarter. Pacifica Partners Inc. boosted its position in Intuit by 27.7% during the 4th quarter. Pacifica Partners Inc. now owns 83 shares of the software maker's stock worth $52,000 after acquiring an additional 18 shares during the last quarter. Drive Wealth Management LLC lifted its position in Intuit by 2.4% during the 4th quarter. Drive Wealth Management LLC now owns 760 shares of the software maker's stock worth $478,000 after buying an additional 18 shares in the last quarter. Finally, NewSquare Capital LLC grew its holdings in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after acquiring an additional 18 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on INTU. Morgan Stanley dropped their price objective on Intuit from $730.00 to $720.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. BNP Paribas downgraded shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price objective for the company. in a research report on Wednesday, January 15th. Citigroup lowered their price target on Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Redburn Atlantic assumed coverage on Intuit in a research report on Wednesday, February 19th. They issued a "neutral" rating for the company. Finally, Piper Sandler restated an "overweight" rating and issued a $785.00 price target (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $717.53.

Insiders Place Their Bets

In related news, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the transaction, the executive vice president now owns 21,882 shares of the company's stock, valued at $13,401,849.72. This trade represents a 27.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the sale, the insider now owns 6,219,900 shares of the company's stock, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is currently owned by insiders.

Intuit Price Performance

Shares of NASDAQ INTU traded up $18.78 during mid-day trading on Thursday, hitting $614.83. 1,599,267 shares of the stock traded hands, compared to its average volume of 1,577,949. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $714.78. The firm has a 50 day simple moving average of $592.04 and a two-hundred day simple moving average of $615.98. 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 cap of $171.88 billion, a PE ratio of 59.69, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit's payout ratio 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.