Horizon Investments LLC Has $6.04 Million Stake in Intuit Inc. (NASDAQ:INTU)

Horizon Investments LLC lifted its stake in Intuit Inc. (NASDAQ:INTU) by 40.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,624 shares of the software maker’s stock after purchasing an additional 2,789 shares during the quarter. Horizon Investments LLC’s holdings in Intuit were worth $6,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of Intuit during the 4th quarter valued at $25,000. NewSquare Capital LLC grew its stake in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in Intuit in the fourth quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Intuit in the 4th quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Intuit during the 4th quarter valued at about $29,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Sasan K. Goodarzi sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 73,655 shares of the 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 sale, the insider now owns 6,301,286 shares in the company, valued at approximately $4,189,977,112.84. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 189,301 shares of company stock worth $121,470,200. Corporate insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

INTU has been the topic of a number of research reports. Citigroup dropped their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Mizuho raised their target price on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Oppenheimer boosted their price objective on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and raised their price target for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $721.61.

Intuit Trading Up 0.6 %

INTU stock opened at $602.11 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market cap of $168.33 billion, a P/E ratio of 58.46, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78. The business’s 50 day moving average is $597.76 and its 200-day moving average is $623.51.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s payout ratio is presently 38.81%.

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.