Mufg Securities Americas Inc. Takes Position in Intuit Inc. (NASDAQ:INTU)

Mufg Securities Americas Inc. purchased a new position in Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,138 shares of the software maker’s stock, valued at approximately $2,601,000.

Several other institutional investors and hedge funds also recently bought and sold shares of INTU. R Squared Ltd purchased a new position in shares of Intuit during the fourth quarter worth approximately $25,000. NewSquare Capital LLC raised its position 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 purchased a new stake in shares of Intuit in the 4th quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Intuit during the 4th quarter worth $28,000. Finally, Summit Securities Group LLC purchased a new position in shares of Intuit during the fourth quarter valued at $28,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now owns 8 shares in the company, valued at $4,800. The trade was a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is owned by insiders.

Intuit Stock Down 0.8%

INTU stock opened at $656.80 on Wednesday. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a 50-day simple moving average of $604.28 and a 200-day simple moving average of $618.26. The stock has a market capitalization of $183.62 billion, a P/E ratio of 63.77, a P/E/G ratio of 2.85 and a beta of 1.24.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit’s payout ratio is 38.81%.

Wall Street Analyst Weigh In

A number of research analysts have commented on INTU shares. Hsbc Global Res raised shares of Intuit from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Scotiabank raised Intuit from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 price target on the stock in a research note on Wednesday, April 23rd. Morgan Stanley lowered their target price on shares of Intuit from $730.00 to $720.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Finally, Piper Sandler restated an “overweight” rating and set a $785.00 price target (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus 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.