Legacy Investment Solutions LLC Raises Holdings in Intuit Inc. (NASDAQ:INTU)

Legacy Investment Solutions LLC boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 18.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 118 shares of the software maker’s stock after acquiring an additional 18 shares during the quarter. Legacy Investment Solutions LLC’s holdings in Intuit were worth $68,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Nordea Investment Management AB increased its holdings in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. purchased a new position in Intuit in the fourth quarter valued at $621,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Intuit by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock valued at $107,854,000 after buying an additional 3,648 shares in the last quarter. Beacon Investment Advisory Services Inc. raised its position in shares of Intuit by 3.8% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker’s stock worth $27,223,000 after acquiring an additional 1,602 shares during the period. Finally, Douglas Lane & Associates LLC increased its stake in shares of Intuit by 109.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker’s stock valued at $15,502,000 after purchasing an additional 12,916 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction on 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 transaction, the director now owns 8 shares of the company’s stock, valued at $4,800. This represents a 99.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction 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 transaction, the insider now owns 6,219,900 shares of the company’s stock, valued at approximately $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 quarter, insiders have sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is currently owned by insiders.

Intuit Stock Performance

Shares of Intuit stock opened at $587.04 on Friday. The business’s 50 day moving average price is $591.70 and its 200 day moving average price is $617.55. The company has a market cap of $164.11 billion, a price-to-earnings ratio of 56.99, a PEG ratio of 2.85 and a beta of 1.25. 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 Inc. has a one year low of $532.65 and a one year high of $714.78.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.71%. Intuit’s payout ratio is 38.81%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on INTU shares. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. Piper Sandler reissued an “overweight” rating and issued a $785.00 price target (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target for the company in a report on Wednesday, February 26th. Redburn Atlantic started coverage on shares of Intuit in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. Finally, StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average price target of $713.56.

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.