Intuit Inc. (NASDAQ:INTU) Position Boosted by Dynasty Wealth Management LLC

Dynasty Wealth Management LLC raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 9.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,359 shares of the software maker’s stock after acquiring an additional 371 shares during the quarter. Dynasty Wealth Management LLC’s holdings in Intuit were worth $2,740,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its holdings 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 buying an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. acquired a new stake in Intuit during the 4th quarter worth approximately $621,000. Harvest Portfolios Group Inc. grew its holdings in shares of Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after buying an additional 1,853 shares in the last quarter. Retireful LLC bought a new stake in Intuit during the third quarter worth about $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Intuit in the third quarter valued at approximately $56,144,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Performance

Intuit stock opened at $600.42 on Friday. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The company has a 50 day moving average price of $606.49 and a 200-day moving average price of $627.35. The company has a market capitalization of $168.07 billion, a PE ratio of 58.29, a P/E/G ratio of 2.85 and a beta of 1.24. 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 Dividend Announcement

The firm also recently declared 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. 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 presently 38.81%.

Insider Activity

In other news, CFO Sandeep Aujla sold 109 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the transaction, the chief financial officer now directly owns 1,944 shares in the company, valued at approximately $1,221,804. This represents a 5.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the sale, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. This represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 218,014 shares of company stock valued at $140,855,687 in the last three months. 2.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Piper Sandler restated an “overweight” rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a research report on Wednesday. BMO Capital Markets decreased their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday. Stifel Nicolaus reduced their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Barclays cut 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $717.88.

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.