Bay Colony Advisory Group Inc d b a Bay Colony Advisors Acquires 245 Shares of Intuit Inc. (NASDAQ:INTU)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 25.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,216 shares of the software maker’s stock after purchasing an additional 245 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Intuit were worth $764,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Avidian Wealth Enterprises LLC grew its stake in Intuit by 36.1% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 667 shares of the software maker’s stock worth $414,000 after buying an additional 177 shares in the last quarter. M&G PLC lifted its holdings in shares of Intuit by 15.4% during the 3rd quarter. M&G PLC now owns 42,306 shares of the software maker’s stock worth $26,272,000 after acquiring an additional 5,658 shares during the last quarter. Graypoint LLC grew its position in Intuit by 11.3% in the third quarter. Graypoint LLC now owns 2,439 shares of the software maker’s stock worth $1,515,000 after acquiring an additional 247 shares in the last quarter. Advisor Resource Council bought a new position in Intuit in the third quarter valued at $285,000. Finally, Walkner Condon Financial Advisors LLC raised its position in Intuit by 18.0% during the third quarter. Walkner Condon Financial Advisors LLC now owns 426 shares of the software maker’s stock valued at $264,000 after purchasing an additional 65 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a report on Wednesday, February 26th. Barclays cut their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research note on Wednesday, January 15th. Mizuho upped their price objective on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and increased their target price for the company from $640.00 to $660.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $721.61.

Insider Buying and Selling at Intuit

In other news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 220,811 shares of company stock valued at $142,391,012. 2.68% of the stock is currently owned by company insiders.

Intuit Price Performance

Shares of INTU stock opened at $609.61 on Friday. 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 firm has a market cap of $170.42 billion, a P/E ratio of 59.19, a P/E/G ratio of 2.85 and a beta of 1.27. The business’s 50 day moving average price is $602.28 and its 200-day moving average price is $625.73. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders 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 yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is currently 38.81%.

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.