Ausdal Financial Partners Inc. Invests $214,000 in Intuit Inc. (NASDAQ:INTU)

Ausdal Financial Partners Inc. purchased a new stake in Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 341 shares of the software maker’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP grew its holdings in shares of Intuit by 1,027.3% during the third quarter. Quantbot Technologies LP now owns 124 shares of the software maker’s stock valued at $77,000 after buying an additional 113 shares in the last quarter. Glenmede Trust Co. NA boosted its position in Intuit by 2.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 15,647 shares of the software maker’s stock worth $9,717,000 after acquiring an additional 361 shares during the period. Hantz Financial Services Inc. boosted its position in Intuit by 4.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 20,071 shares of the software maker’s stock worth $12,464,000 after acquiring an additional 902 shares during the period. Captrust Financial Advisors grew its stake in Intuit by 6.9% during the 3rd quarter. Captrust Financial Advisors now owns 64,896 shares of the software maker’s stock valued at $40,300,000 after acquiring an additional 4,184 shares in the last quarter. Finally, Eventide Asset Management LLC increased its holdings in shares of Intuit by 66.9% in the 3rd quarter. Eventide Asset Management LLC now owns 5,971 shares of the software maker’s stock valued at $3,708,000 after purchasing an additional 2,393 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Down 2.7 %

Shares of NASDAQ:INTU opened at $598.92 on Friday. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $167.44 billion, a P/E ratio of 58.15, a P/E/G ratio of 2.85 and a beta of 1.27. The stock’s 50-day moving average is $595.90 and its 200-day moving average is $622.46.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is currently 38.81%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price for the company in a research report on Wednesday, February 26th. Scotiabank cut their price objective on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. BMO Capital Markets lowered their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price target (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Finally, Citigroup reduced their price target on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Insider Transactions at Intuit

In other news, EVP Laura A. Fennell sold 8,163 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the transaction, the executive vice president now owns 21,882 shares in the company, valued at approximately $13,401,849.72. The trade was a 27.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the sale, the chief executive officer now owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. The trade was a 67.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 132,896 shares of company stock worth $82,946,716 over the last three months. 2.68% of the stock is currently owned by 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.