Peloton Wealth Strategists Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

Peloton Wealth Strategists raised its holdings in Intuit Inc. (NASDAQ:INTU) by 20.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,399 shares of the software maker’s stock after buying an additional 738 shares during the quarter. Peloton Wealth Strategists’ holdings in Intuit were worth $2,765,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. R Squared Ltd purchased a new stake in shares of Intuit during the 4th quarter worth about $25,000. Heck Capital Advisors LLC purchased a new stake in shares of Intuit during the 4th quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit during the 4th quarter worth about $28,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Intuit during the 4th quarter worth about $29,000. Finally, Denver PWM LLC purchased a new stake in shares of Intuit during the 3rd quarter worth about $32,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of INTU opened at $600.42 on Friday. The business’s 50 day moving average is $606.49 and its two-hundred day moving average is $627.35. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The firm has a market cap of $168.07 billion, a price-to-earnings ratio of 58.29, a PEG ratio of 2.85 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

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 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio is currently 38.81%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on INTU shares. Jefferies Financial Group boosted their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Citigroup decreased their target price on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday. Oppenheimer boosted their target price on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research report on Wednesday. Finally, BNP Paribas lowered 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 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $717.88.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. This represents a 97.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 73,655 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the sale, the insider now directly owns 6,301,286 shares in the company, valued at approximately $4,189,977,112.84. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 218,014 shares of company stock valued at $140,855,687. Corporate insiders own 2.68% of the company’s stock.

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.