Intuit Inc. (NASDAQ:INTU) Shares Bought by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC raised its holdings in Intuit Inc. (NASDAQ:INTU) by 9.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 35,525 shares of the software maker’s stock after acquiring an additional 2,994 shares during the period. Orion Portfolio Solutions LLC’s holdings in Intuit were worth $22,327,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Intuit during the fourth quarter valued at approximately $25,000. NewSquare Capital LLC grew its stake in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of Intuit in the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Intuit during the fourth quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in Intuit during the 4th quarter worth approximately $29,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Performance

NASDAQ:INTU opened at $615.30 on Friday. The stock’s 50 day simple moving average is $596.00 and its two-hundred day simple moving average is $622.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The company has a market cap of $172.01 billion, a price-to-earnings ratio of 59.74, a PEG ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

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 paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $4,999,510.98. Following the completion of the sale, the executive vice president now owns 21,882 shares in the company, valued at $13,401,849.72. This represents a 27.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 132,896 shares of company stock worth $82,946,716 over the last 90 days. Company insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. BMO Capital Markets cut their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Scotiabank lowered their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Citigroup reduced their target price on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price on the stock in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $721.61.

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.