Corebridge Financial Inc. Has $60.42 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Corebridge Financial Inc. boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 96,134 shares of the software maker’s stock after purchasing an additional 591 shares during the period. Corebridge Financial Inc.’s holdings in Intuit were worth $60,420,000 as of its most recent SEC filing.

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

Intuit Stock Up 0.6 %

INTU opened at $604.04 on Monday. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The firm has a market cap of $168.87 billion, a price-to-earnings ratio of 58.64, a PEG ratio of 2.85 and a beta of 1.27. The firm’s 50-day simple moving average is $596.08 and its 200-day simple moving average is $622.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s payout ratio is 38.81%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Redburn Atlantic began coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. Mizuho lifted their price target on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research note on Wednesday, January 15th. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and raised their target price for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Finally, StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $721.61.

Insider Transactions at Intuit

In other Intuit news, 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 sale, the chief executive officer now owns 35,776 shares of the company’s stock, valued at $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 this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now directly owns 8 shares of the company’s stock, valued at approximately $4,800. This represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 117,348 shares of company stock valued at $73,515,245 in the last three months. 2.68% of the stock is owned by corporate 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.