Wellington Wealth Strategies LLC. Takes Position in Intuit Inc. (NASDAQ:INTU)

Wellington Wealth Strategies LLC. acquired a new position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,835 shares of the software maker's stock, valued at approximately $1,655,000. Intuit comprises about 1.6% of Wellington Wealth Strategies LLC.'s investment portfolio, making the stock its 19th largest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Intuit in the fourth quarter valued at $2,290,419,000. Proficio Capital Partners LLC lifted its holdings in Intuit by 112,233.1% in 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. Wellington Management Group LLP boosted its stake in shares of Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after purchasing an additional 620,559 shares during the last quarter. Unisphere Establishment grew its holdings in shares of Intuit by 50.0% during the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock worth $942,750,000 after buying an additional 500,000 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Intuit by 17.3% in the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock valued at $2,118,682,000 after buying an additional 498,030 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Stock Up 0.1%

NASDAQ INTU opened at $670.86 on Tuesday. 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 Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $714.78. The business has a 50 day moving average price of $610.04 and a two-hundred day moving average price of $619.55. The stock has a market cap of $187.55 billion, a PE ratio of 65.13, a P/E/G ratio of 2.85 and a beta of 1.24.

Intuit Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Oppenheimer decreased their target price on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Redburn Atlantic began coverage on Intuit in a research report on Wednesday, February 19th. They set a "neutral" rating on the stock. BMO Capital Markets decreased their price target on Intuit from $760.00 to $714.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Intuit in a research note on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $720.16.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares of the company's stock, valued at $3,758,436,774. This represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the transaction, the director now owns 8 shares of the company's stock, valued at approximately $4,800. This trade represents a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is currently owned by company 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.

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