NewSquare Capital LLC Raises Stake in Intuit Inc. (NASDAQ:INTU)

NewSquare Capital LLC grew its holdings in Intuit Inc. (NASDAQ:INTU) by 72.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 43 shares of the software maker’s stock after buying an additional 18 shares during the period. NewSquare Capital LLC’s holdings in Intuit were worth $27,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in INTU. Nordea Investment Management AB boosted its holdings in shares of Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after acquiring an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. purchased a new stake in Intuit in the 4th quarter valued at approximately $621,000. Harvest Portfolios Group Inc. increased its position in Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after purchasing an additional 1,853 shares during the period. Retireful LLC purchased a new position in shares of Intuit during the 3rd quarter worth approximately $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Intuit in the 3rd quarter valued at approximately $56,144,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Up 3.3 %

Shares of NASDAQ INTU opened at $617.51 on Thursday. The stock has a market capitalization of $172.63 billion, a PE ratio of 59.95, a P/E/G 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. The firm has a fifty day moving average of $603.65 and a 200-day moving average of $626.24. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78.

Intuit Dividend Announcement

The company 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. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.67%. Intuit’s dividend payout ratio is presently 38.81%.

Insider Transactions at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Scott D. Cook sold 73,655 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 6,301,286 shares of the company’s stock, valued at approximately $4,189,977,112.84. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,811 shares of company stock worth $142,391,012 in the last three months. 2.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

INTU has been the topic of several research analyst reports. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price on the stock in a research report on Wednesday, February 26th. BMO Capital Markets decreased their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and increased their target price for the company from $640.00 to $660.00 in a report on Wednesday. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Scotiabank lowered their price target on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company 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.