Intuit Inc. (NASDAQ:INTU) Stock Holdings Lifted by Corebridge Financial Inc.

Corebridge Financial Inc. lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 96,134 shares of the software maker’s stock after buying an additional 591 shares during the period. Corebridge Financial Inc.’s holdings in Intuit were worth $60,420,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. R Squared Ltd acquired a new position in Intuit during the 4th quarter valued at about $25,000. NewSquare Capital LLC raised its holdings in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after buying an additional 18 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Intuit during the fourth quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit in the 4th quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Intuit in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In related news, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now owns 35,776 shares in the company, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark P. Notarainni sold 363 shares of Intuit stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $228,145.50. Following the transaction, the executive vice president now owns 19 shares in the company, valued at approximately $11,941.50. The trade was a 95.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 117,348 shares of company stock valued at $73,515,245. 2.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on INTU. Mizuho boosted their price target on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. Redburn Atlantic assumed coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. BMO Capital Markets reduced their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Finally, Piper Sandler reiterated an “overweight” rating and set a $785.00 price objective (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $721.61.

Intuit Stock Up 0.6 %

Shares of Intuit stock opened at $604.04 on Monday. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78. The firm has a market capitalization of $168.87 billion, a PE ratio of 58.64, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. 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 stock’s fifty day moving average is $596.08 and its 200-day moving average is $622.80.

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 of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s payout ratio is presently 38.81%.

Intuit 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.