IFP Advisors Inc Acquires 35 Shares of Intuit Inc. (NASDAQ:INTU)

IFP Advisors Inc grew its holdings in Intuit Inc. (NASDAQ:INTU) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,961 shares of the software maker’s stock after purchasing an additional 35 shares during the period. IFP Advisors Inc’s holdings in Intuit were worth $2,490,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $25,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $28,000. Sugar Maple Asset Management LLC acquired a new position in Intuit during the fourth quarter worth $29,000. Finally, Denver PWM LLC acquired a new position in Intuit during the third quarter worth $32,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on INTU. Stifel Nicolaus lowered their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Barclays lowered their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Redburn Atlantic began coverage on shares of Intuit in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $726.71.

Intuit Stock Performance

Intuit stock opened at $555.63 on Wednesday. The business has a 50 day moving average of $607.70 and a 200-day moving average of $627.55. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $155.53 billion, a P/E ratio of 53.94, a P/E/G ratio of 2.85 and a beta of 1.24.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 73,655 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total transaction 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 represents a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now directly owns 489 shares of the company’s stock, valued at $325,664.22. This represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 218,014 shares of company stock valued at $140,855,687 over the last quarter. 2.68% of the stock is owned by company insiders.

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.