Vident Advisory LLC Has $24.15 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Vident Advisory LLC boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 548.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,430 shares of the software maker’s stock after purchasing an additional 32,500 shares during the period. Vident Advisory LLC’s holdings in Intuit were worth $24,153,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in INTU. Avanza Fonder AB bought a new stake in Intuit in the fourth quarter valued at $230,000. Merit Financial Group LLC boosted its stake in shares of Intuit by 53.9% in the 4th quarter. Merit Financial Group LLC now owns 3,999 shares of the software maker’s stock valued at $2,513,000 after purchasing an additional 1,400 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in shares of Intuit by 2.8% in the 4th quarter. Arkadios Wealth Advisors now owns 1,998 shares of the software maker’s stock worth $1,256,000 after purchasing an additional 55 shares during the last quarter. HB Wealth Management LLC increased its position in shares of Intuit by 4.8% during the 4th quarter. HB Wealth Management LLC now owns 6,550 shares of the software maker’s stock worth $4,117,000 after purchasing an additional 299 shares in the last quarter. Finally, Ameritas Advisory Services LLC lifted its holdings in Intuit by 187.0% during the 4th quarter. Ameritas Advisory Services LLC now owns 1,016 shares of the software maker’s stock valued at $639,000 after purchasing an additional 662 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on INTU. Piper Sandler restated an “overweight” rating and issued a $785.00 price target (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Mizuho boosted their target price on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. UBS Group raised their price target on Intuit from $655.00 to $720.00 and gave the company a “neutral” rating in a report on Friday. BMO Capital Markets reduced their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Finally, HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 target price on the stock in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $720.16.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the transaction, the insider now directly owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, 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. Insiders have sold 23,696 shares of company stock valued at $14,347,731 in the last 90 days. 2.68% of the stock is owned by insiders.

Intuit Trading Up 1.4%

NASDAQ INTU opened at $670.28 on Monday. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $714.78. The stock has a 50-day simple moving average of $608.44 and a 200 day simple moving average of $619.21. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $187.38 billion, a PE ratio of 65.08, 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 $1.04 dividend. The ex-dividend date was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.62%. Intuit’s dividend payout ratio is 38.81%.

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.