Intuit Inc. (NASDAQ:INTU) Shares Bought by Cannell & Spears LLC

Cannell & Spears LLC lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,246 shares of the software maker’s stock after acquiring an additional 239 shares during the period. Cannell & Spears LLC’s holdings in Intuit were worth $2,669,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTU. R Squared Ltd purchased a new stake in shares of Intuit during the fourth quarter worth about $25,000. NewSquare Capital LLC lifted its stake in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after buying an additional 18 shares during the period. Heck Capital Advisors LLC acquired a new stake in Intuit during the fourth quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit in the 4th quarter worth approximately $28,000. Finally, Summit Securities Group LLC acquired a new position in Intuit in the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In related news, EVP Mark P. Notarainni sold 363 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $228,145.50. Following the completion of the transaction, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $11,941.50. This represents a 95.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the sale, the insider now owns 6,219,900 shares in the company, valued at $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 57,896 shares of company stock valued at $35,689,216. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Up 2.5 %

NASDAQ INTU opened at $613.99 on Tuesday. 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 Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The business has a 50 day moving average price of $596.09 and a two-hundred day moving average price of $622.00. The stock has a market cap of $171.65 billion, a PE ratio of 59.61, 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. Stockholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Analyst Upgrades and Downgrades

INTU has been the topic of several analyst reports. Jefferies Financial Group decreased their price objective on Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a report on Monday. 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 note on Wednesday, January 15th. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price objective (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. BMO Capital Markets decreased their target price on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price for the company in a report on Wednesday, February 26th. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $718.00.

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.