Sage Mountain Advisors LLC Purchases 114 Shares of Intuit Inc. (NASDAQ:INTU)

Sage Mountain Advisors LLC lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 9.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,282 shares of the software maker’s stock after acquiring an additional 114 shares during the period. Sage Mountain Advisors LLC’s holdings in Intuit were worth $806,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brown Financial Advisors boosted its holdings in Intuit by 0.9% in the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after acquiring an additional 15 shares in the last quarter. Truvestments Capital LLC boosted its stake in Intuit by 1.5% during the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after purchasing an additional 16 shares during the last quarter. True North Advisors LLC increased its holdings in Intuit by 4.3% during the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock worth $257,000 after purchasing an additional 17 shares in the last quarter. Great Diamond Partners LLC increased its holdings in Intuit by 2.8% during the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after purchasing an additional 17 shares in the last quarter. Finally, Kovack Advisors Inc. lifted its holdings in shares of Intuit by 4.8% in the third quarter. Kovack Advisors Inc. now owns 393 shares of the software maker’s stock valued at $244,000 after purchasing an additional 18 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on INTU. Stifel Nicolaus lowered their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research 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 for the company in a report on Friday, November 22nd. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Citigroup reduced their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group lifted their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

Intuit Trading Up 1.2 %

Shares of Intuit stock opened at $586.71 on Wednesday. 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 stock has a market capitalization of $164.02 billion, a P/E ratio of 56.96, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The stock’s 50-day simple moving average is $600.43 and its 200 day simple moving average is $624.29.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.71%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Insider Buying and Selling

In other news, insider Scott D. Cook sold 73,655 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the sale, the insider now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $18,414,736.20. This represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 213,111 shares of company stock valued at $137,327,184. Company insiders own 2.68% of the company’s stock.

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.