Strategic Wealth Partners Ltd. Acquires 2,815 Shares of Intuit Inc. (NASDAQ:INTU)

Strategic Wealth Partners Ltd. increased its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 26.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,491 shares of the software maker's stock after purchasing an additional 2,815 shares during the quarter. Strategic Wealth Partners Ltd.'s holdings in Intuit were worth $7,877,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. R Squared Ltd bought a new position in shares of Intuit in the fourth quarter valued at approximately $25,000. NewSquare Capital LLC increased its holdings in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Heck Capital Advisors LLC bought a new position in Intuit in the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Intuit in the fourth quarter worth $28,000. Finally, Summit Securities Group LLC bought a new stake in shares of Intuit during the fourth quarter worth $28,000. Institutional investors own 83.66% of the company's stock.

Insider Activity at Intuit

In other news, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the sale, the executive vice president now owns 21,882 shares of the company's stock, valued at approximately $13,401,849.72. This represents a 27.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on INTU shares. Hsbc Global Res upgraded shares of Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. BMO Capital Markets lowered their price objective on Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. HSBC raised shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price on the stock in a research note on Wednesday, April 23rd. Finally, StockNews.com upgraded shares of Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $720.16.

Intuit Stock Up 0.0%

Shares of NASDAQ INTU traded up $0.30 during midday trading on Tuesday, reaching $671.16. The company's stock had a trading volume of 1,044,423 shares, compared to its average volume of 1,609,419. The stock has a 50 day simple moving average of $611.83 and a 200-day simple moving average of $619.91. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $187.63 billion, a price-to-earnings ratio of 65.16, a PEG ratio of 2.85 and a beta of 1.24. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $714.78.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit's payout ratio is 38.81%.

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.