AXQ Capital LP Takes Position in Intuit Inc. (NASDAQ:INTU)

AXQ Capital LP purchased a new position in shares of Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 925 shares of the software maker’s stock, valued at approximately $581,000.

Other large investors have also bought and sold shares of the company. Brown Financial Advisors increased its stake in shares of Intuit by 0.9% in the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after buying an additional 15 shares during the period. Truvestments Capital LLC increased its position in shares of Intuit by 1.5% in the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after acquiring an additional 16 shares during the period. True North Advisors LLC raised its stake in shares of Intuit by 4.3% during the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after acquiring an additional 17 shares during the last quarter. Great Diamond Partners LLC boosted its holdings in shares of Intuit by 2.8% during the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after purchasing an additional 17 shares during the period. Finally, Prospera Financial Services Inc grew its stake in shares of Intuit by 1.8% in the third quarter. Prospera Financial Services Inc now owns 1,008 shares of the software maker’s stock worth $626,000 after purchasing an additional 18 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Scott D. Cook sold 6,446 shares of the company’s 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 transaction, the insider now directly owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares of the company’s stock, valued at $4,800. The trade was a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 117,348 shares of company stock worth $73,515,245 over the last 90 days. 2.68% of the stock is currently owned by insiders.

Intuit Price Performance

INTU opened at $604.04 on Friday. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The stock has a 50-day moving average price of $596.08 and a 200-day moving average price of $622.80. The firm has a market cap of $168.87 billion, a PE ratio of 58.64, a P/E/G ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

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 0.69%. Intuit’s dividend payout ratio is presently 38.81%.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price target (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a report on Wednesday, January 15th. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Redburn Atlantic started coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, Morgan Stanley upgraded shares of 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, February 26th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.