NewEdge Advisors LLC Has $18.79 Million Holdings in Intuit Inc. (NASDAQ:INTU)

NewEdge Advisors LLC raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 6.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,900 shares of the software maker’s stock after buying an additional 1,786 shares during the period. NewEdge Advisors LLC’s holdings in Intuit were worth $18,792,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of INTU. R Squared Ltd bought a new position in Intuit in the 4th quarter valued at $25,000. NewSquare Capital LLC increased its position in 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. Summit Securities Group LLC acquired a new stake in Intuit in the 4th quarter valued at about $28,000. Heck Capital Advisors LLC bought a new position in shares of Intuit in the fourth quarter worth about $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit during the fourth quarter worth approximately $28,000. Institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Shares of INTU stock opened at $588.08 on Thursday. 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 Inc. has a 12-month low of $532.65 and a 12-month high of $714.78. The firm has a fifty day moving average of $592.07 and a 200-day moving average of $616.88. The firm has a market capitalization of $164.40 billion, a price-to-earnings ratio of 57.10, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.71%. Intuit’s payout ratio is 38.81%.

Analysts Set New Price Targets

INTU has been the subject of several research analyst reports. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. Citigroup dropped their target price on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a report on Wednesday, January 15th. Redburn Atlantic began coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating for the company. Finally, Jefferies Financial Group cut their target price on shares of Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average target price of $713.00.

Insiders Place Their Bets

In other news, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 8 shares in the company, valued at $4,800. This represents a 99.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the sale, the executive vice president now owns 21,882 shares in the company, valued at approximately $13,401,849.72. The trade was a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,696 shares of company stock worth $14,347,731 over the last ninety days. 2.68% of the stock is currently owned by corporate insiders.

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.