Intuit Inc. (NASDAQ:INTU) Shares Purchased by Atomi Financial Group Inc.

Atomi Financial Group Inc. raised its stake in Intuit Inc. (NASDAQ:INTU) by 11.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,532 shares of the software maker’s stock after acquiring an additional 257 shares during the period. Atomi Financial Group Inc.’s holdings in Intuit were worth $1,591,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its position in Intuit by 68,404.7% during the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after purchasing an additional 483,621 shares during the period. Holocene Advisors LP boosted its holdings in shares of Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after acquiring an additional 312,212 shares during the period. Nordea Investment Management AB grew its position in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after acquiring an additional 238,486 shares during the period. Finally, State Street Corp lifted its position in Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after purchasing an additional 221,885 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research note on Wednesday, January 15th. Stifel Nicolaus cut their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Scotiabank started coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective for the company. Finally, 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 research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Stock Performance

Intuit stock opened at $609.41 on Wednesday. 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 cap of $170.59 billion, a P/E ratio of 59.17, a price-to-earnings-growth ratio of 2.98 and a beta of 1.25. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The firm’s 50 day simple moving average is $644.23 and its 200-day simple moving average is $636.37.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.14 EPS. As a group, equities research analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Insider Activity

In other news, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the transaction, the executive vice president now directly owns 30,010 shares in the company, valued at $18,414,736.20. The trade was a 13.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock worth $188,992,187 in the last 90 days. Company insiders own 2.68% of the company’s stock.

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.