Impact Capital Partners LLC Makes New Investment in Intuit Inc. (NASDAQ:INTU)

Impact Capital Partners LLC bought a new position in shares of Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 682 shares of the software maker’s stock, valued at approximately $429,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INTU. R Squared Ltd bought a new position in Intuit during the fourth quarter worth about $25,000. NewSquare Capital LLC boosted its position in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares during the period. Heck Capital Advisors LLC bought a new position in Intuit during the fourth quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit during the fourth quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in Intuit during the fourth quarter worth about $29,000. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Down 1.7 %

INTU stock opened at $581.32 on Friday. The company has a market capitalization of $162.51 billion, a PE ratio of 56.44, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78. The company’s 50 day moving average price is $598.85 and its two-hundred day moving average price is $623.76. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Insiders Place Their Bets

In related news, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the transaction, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction on 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 in the company, 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. Over the last ninety days, insiders have sold 189,301 shares of company stock valued at $121,470,200. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a research report on Wednesday, February 26th. Mizuho raised their price objective on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Redburn Atlantic assumed coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. BMO Capital Markets cut their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group lifted their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Company 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.