New Age Alpha Advisors LLC Invests $6.10 Million in Intuit Inc. (NASDAQ:INTU)

New Age Alpha Advisors LLC bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,708 shares of the software maker’s stock, valued at approximately $6,101,000.

Other hedge funds also recently added to or reduced their stakes in the company. AKO Capital LLP boosted its stake in shares of Intuit by 8.3% in the fourth quarter. AKO Capital LLP now owns 594,479 shares of the software maker’s stock worth $373,630,000 after buying an additional 45,603 shares during the last quarter. Norges Bank purchased a new stake in Intuit in the 4th quarter worth approximately $2,290,419,000. Caisse Des Depots ET Consignations acquired a new stake in shares of Intuit during the 4th quarter worth approximately $560,000. NEOS Investment Management LLC increased its holdings in shares of Intuit by 25.2% during the 4th quarter. NEOS Investment Management LLC now owns 35,523 shares of the software maker’s stock valued at $22,326,000 after purchasing an additional 7,142 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted its stake in shares of Intuit by 38.5% in the 4th quarter. UniSuper Management Pty Ltd now owns 83,743 shares of the software maker’s stock valued at $52,632,000 after purchasing an additional 23,262 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Up 0.1 %

Shares of NASDAQ:INTU opened at $615.30 on Friday. The company has a market capitalization 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 Inc. has a 12-month low of $553.24 and a 12-month high of $714.78. The business has a 50-day moving average price of $596.00 and a 200 day moving average price of $622.66. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. Intuit’s dividend payout ratio is currently 38.81%.

Insiders Place Their Bets

In other news, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the sale, the chief executive officer now owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction that occurred 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 directly owns 21,882 shares of the company’s stock, valued at approximately $13,401,849.72. The trade was a 27.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 132,896 shares of company stock worth $82,946,716 over the last ninety days. Corporate insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of recent analyst reports. Mizuho lifted their price objective on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. BMO Capital Markets reduced their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Piper Sandler reissued 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. 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 report on Wednesday, February 26th. Finally, Citigroup dropped their target price on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, 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.