Sig Brokerage LP Invests $324,000 in Intuit Inc. (NASDAQ:INTU)

Sig Brokerage LP bought a new position in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 515 shares of the software maker’s stock, valued at approximately $324,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTU. R Squared Ltd bought a new stake in shares of Intuit during the fourth quarter worth about $25,000. NewSquare Capital LLC boosted its holdings in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in Intuit in the fourth quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Intuit in the fourth quarter valued at about $28,000. Finally, Summit Securities Group LLC purchased a new position in Intuit in the fourth quarter valued at about $28,000. 83.66% of the stock is owned by institutional investors.

Intuit Stock Performance

Shares of INTU stock opened at $661.31 on Friday. The company has a 50 day moving average price of $606.77 and a 200-day moving average price of $618.84. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $714.78. The firm has a market capitalization of $184.88 billion, a PE ratio of 64.20, a P/E/G ratio of 2.85 and a beta of 1.24. 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 Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently commented on the stock. Piper Sandler restated an “overweight” rating and set a $785.00 price target (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. BMO Capital Markets decreased their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Scotiabank raised shares of Intuit from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Finally, Oppenheimer dropped their price target on shares of Intuit from $722.00 to $642.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $717.53.

Insider Transactions at Intuit

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 21,882 shares in the company, valued at $13,401,849.72. The trade was a 27.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were 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. This trade represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,696 shares of company stock worth $14,347,731 over the last three months. 2.68% of the stock is currently owned by company insiders.

About Intuit

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.