Intuit Inc. (NASDAQ:INTU) Shares Bought by Perennial Investment Advisors LLC

Perennial Investment Advisors LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 9.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 612 shares of the software maker’s stock after acquiring an additional 51 shares during the period. Perennial Investment Advisors LLC’s holdings in Intuit were worth $385,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of INTU. R Squared Ltd purchased a new stake in Intuit during the fourth quarter worth $25,000. NewSquare Capital LLC raised its stake in shares of Intuit by 72.0% during the 4th 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 last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Intuit in the 4th quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit in the 4th quarter valued at about $28,000. Finally, Summit Securities Group LLC 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 Activity

In related news, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the sale, the executive vice president now directly owns 21,882 shares in the company, valued at approximately $13,401,849.72. This trade represents a 27.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 8 shares in the company, valued at $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,862 shares of company stock valued at $18,767,673. Company insiders own 2.68% of the company’s stock.

Intuit Stock Down 6.2 %

Shares of NASDAQ:INTU opened at $561.53 on Friday. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The stock has a 50-day simple moving average of $595.64 and a 200-day simple moving average of $620.79. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $156.98 billion, a P/E ratio of 54.52, a PEG ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is currently 38.81%.

Wall Street Analyst Weigh In

Several analysts have recently commented on INTU shares. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target for the company in a research report on Wednesday, February 26th. Redburn Atlantic initiated coverage on Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Jefferies Financial Group dropped their price objective on Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Finally, Piper Sandler restated an “overweight” rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $718.00.

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.