Signature Wealth Management Group Buys 184 Shares of Intuit Inc. (NASDAQ:INTU)

Signature Wealth Management Group grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 6.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,063 shares of the software maker’s stock after purchasing an additional 184 shares during the period. Signature Wealth Management Group’s holdings in Intuit were worth $1,925,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of INTU. Proficio Capital Partners LLC boosted its stake in shares of Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after purchasing an additional 1,062,847 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Intuit during the 4th quarter valued at about $300,854,000. Holocene Advisors LP boosted its stake in shares of Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after purchasing an additional 312,212 shares in the last quarter. Nordea Investment Management AB lifted its position in Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after acquiring an additional 268,060 shares during the period. Finally, Sustainable Growth Advisers LP lifted its position in Intuit by 20.7% during the 4th quarter. Sustainable Growth Advisers LP now owns 1,429,346 shares of the software maker’s stock valued at $898,344,000 after acquiring an additional 245,372 shares during the period. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on INTU shares. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Stifel Nicolaus lowered their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. BMO Capital Markets lowered their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $721.61.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 73,655 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the completion of the sale, the insider now directly owns 6,301,286 shares in the company, valued at approximately $4,189,977,112.84. The trade was 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, CEO Sasan K. Goodarzi sold 75,000 shares of the business’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 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 trade represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 189,301 shares of company stock worth $121,470,200. 2.68% of the stock is owned by company insiders.

Intuit Stock Performance

Shares of INTU stock opened at $598.80 on Friday. The company has a 50 day moving average price of $598.23 and a 200-day moving average price of $623.61. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The firm has a market capitalization of $167.40 billion, a PE ratio of 58.14, a P/E/G 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.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given 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 dividend payout ratio (DPR) is 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.