Benjamin Edwards Inc. Buys 1,292 Shares of Intuit Inc. (NASDAQ:INTU)

Benjamin Edwards Inc. increased its holdings in Intuit Inc. (NASDAQ:INTU) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,546 shares of the software maker’s stock after purchasing an additional 1,292 shares during the quarter. Benjamin Edwards Inc.’s holdings in Intuit were worth $34,924,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. R Squared Ltd bought a new stake in shares of Intuit in the fourth quarter worth about $25,000. NewSquare Capital LLC lifted its holdings in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after buying an additional 18 shares during the period. Summit Securities Group LLC bought a new position in Intuit in the fourth quarter worth $28,000. Heck Capital Advisors LLC purchased a new stake in shares of Intuit in the 4th quarter worth about $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Intuit during the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In other news, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the business’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 transaction, the director now directly owns 8 shares in the company, valued at approximately $4,800. This represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,696 shares of company stock worth $14,347,731. Corporate insiders own 2.68% of the company’s stock.

Intuit Price Performance

Intuit stock opened at $631.68 on Friday. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $714.78. The company has a market cap of $176.59 billion, a price-to-earnings ratio of 61.33, a PEG ratio of 2.85 and a beta of 1.25. The firm’s fifty day moving average is $598.96 and its 200 day moving average is $616.41. 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 Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit’s payout ratio is 38.81%.

Wall Street Analysts Forecast Growth

Several research firms have commented on INTU. Jefferies Financial Group dropped their target price on Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a report on Monday, March 31st. BMO Capital Markets reduced their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Piper Sandler reiterated an “overweight” rating and set a $785.00 target price (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Finally, Redburn Atlantic assumed coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $717.53.

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.