Smartleaf Asset Management LLC Buys 527 Shares of Intuit Inc. (NASDAQ:INTU)

Smartleaf Asset Management LLC increased its stake in Intuit Inc. (NASDAQ:INTU) by 17.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,538 shares of the software maker’s stock after acquiring an additional 527 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Intuit were worth $2,230,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Pinnacle Associates Ltd. grew its holdings in Intuit by 1.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,328 shares of the software maker’s stock worth $830,000 after acquiring an additional 22 shares during the period. Financial Advocates Investment Management boosted its position in shares of Intuit by 7.4% during the 3rd quarter. Financial Advocates Investment Management now owns 1,220 shares of the software maker’s stock valued at $758,000 after purchasing an additional 84 shares in the last quarter. Stephens Inc. AR grew its stake in Intuit by 1.6% during the third quarter. Stephens Inc. AR now owns 12,156 shares of the software maker’s stock worth $7,549,000 after purchasing an additional 193 shares during the period. Principal Securities Inc. increased its holdings in Intuit by 9.6% in the third quarter. Principal Securities Inc. now owns 6,888 shares of the software maker’s stock worth $4,278,000 after purchasing an additional 606 shares in the last quarter. Finally, Brooklyn FI LLC lifted its stake in Intuit by 88.3% in the third quarter. Brooklyn FI LLC now owns 936 shares of the software maker’s stock valued at $581,000 after buying an additional 439 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $613.84 on Friday. 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 stock has a market cap of $171.82 billion, a PE ratio of 59.60, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The stock’s fifty day simple moving average is $605.90 and its two-hundred day simple moving average is $627.12. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is currently 38.81%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on INTU shares. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Jefferies Financial Group lifted their price target on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. BMO Capital Markets cut their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price for the company in a research note on Wednesday. Finally, Oppenheimer upped their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $717.88.

Insider Buying and Selling

In other news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. The trade was a 36.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the sale, the chief executive officer now owns 35,776 shares of the company’s stock, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 218,014 shares of company stock worth $140,855,687. 2.68% of the stock is owned by 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.