Avantax Planning Partners Inc. Has $636,000 Holdings in Intuit Inc. (NASDAQ:INTU)

Avantax Planning Partners Inc. raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 20.0% during the 4th quarter, HoldingsChannel reports. The fund owned 1,012 shares of the software maker’s stock after purchasing an additional 169 shares during the period. Avantax Planning Partners Inc.’s holdings in Intuit were worth $636,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp grew its stake in shares of Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after buying an additional 221,885 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Intuit by 1.4% during the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after buying an additional 80,463 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Intuit by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after buying an additional 107,482 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Intuit by 3.9% during the fourth quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker’s stock worth $1,499,744,000 after buying an additional 88,487 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Intuit by 4.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock worth $1,428,790,000 after buying an additional 87,517 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Intuit stock opened at $586.71 on Wednesday. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78. The business’s 50-day simple moving average is $600.43 and its 200 day simple moving average is $624.29. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $164.02 billion, a price-to-earnings ratio of 56.96, a P/E/G ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders 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 0.71%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio is currently 38.81%.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 73,655 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the completion of the transaction, the insider now directly owns 6,301,286 shares in the company, valued at $4,189,977,112.84. This trade represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 213,111 shares of company stock valued at $137,327,184 over the last 90 days. 2.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

INTU has been the subject of a number of recent research reports. Citigroup cut their target price on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. BMO Capital Markets cut their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and upped their target price for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Oppenheimer upped their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, Redburn Atlantic initiated coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $721.61.

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.