Summit Securities Group LLC Buys Shares of 44 Intuit Inc. (NASDAQ:INTU)

Summit Securities Group LLC purchased a new position in shares of Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 44 shares of the software maker’s stock, valued at approximately $28,000.

Several other hedge funds have also recently bought and sold shares of the stock. Brown Financial Advisors boosted its position in shares of Intuit by 0.9% during the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after buying an additional 15 shares during the period. True North Advisors LLC grew its holdings in shares of Intuit by 4.3% in the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after acquiring an additional 17 shares in the last quarter. Great Diamond Partners LLC increased its position in shares of Intuit by 2.8% in the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock valued at $394,000 after acquiring an additional 17 shares during the last quarter. RB Capital Management LLC raised its holdings in Intuit by 0.6% during the third quarter. RB Capital Management LLC now owns 3,169 shares of the software maker’s stock worth $1,968,000 after acquiring an additional 18 shares in the last quarter. Finally, Pacifica Partners Inc. boosted its position in Intuit by 27.7% during the fourth quarter. Pacifica Partners Inc. now owns 83 shares of the software maker’s stock valued at $52,000 after purchasing an additional 18 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Intuit news, 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 transaction of $1,021,200.00. Following the completion of the sale, the director now directly owns 8 shares of the company’s stock, valued at approximately $4,800. The trade was a 99.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of the company’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 21,882 shares of the company’s stock, valued at approximately $13,401,849.72. The trade was a 27.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,896 shares of company stock valued at $82,946,716. Insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on INTU. Scotiabank lowered their price target on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. BMO Capital Markets cut their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Mizuho boosted their price objective on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Piper Sandler reiterated an “overweight” rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Finally, BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Trading Down 2.7 %

Shares of INTU stock opened at $598.92 on Monday. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The stock’s fifty day moving average price is $595.90 and its two-hundred day moving average price is $622.23. 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 company has a market cap of $167.44 billion, a PE ratio of 58.15, a P/E/G ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s dividend payout ratio is presently 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.