Intuit Inc. (NASDAQ:INTU) Holdings Lifted by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC boosted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 60.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,964 shares of the software maker's stock after acquiring an additional 1,113 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Intuit were worth $1,863,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Intuit in the fourth quarter worth $2,290,419,000. Proficio Capital Partners LLC increased its stake in shares of Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock worth $668,595,000 after purchasing an additional 1,062,847 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Intuit by 13.3% during the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after buying an additional 620,559 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Intuit in the 4th quarter worth $300,854,000. Finally, Capital Research Global Investors acquired a new position in Intuit in the 4th quarter valued at approximately $227,910,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of the firm's 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 sale, the director now directly owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the transaction, the executive vice president now directly owns 21,882 shares of the company's stock, valued at approximately $13,401,849.72. The trade was a 27.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is owned by corporate insiders.

Intuit Trading Down 0.9 %

Shares of Intuit stock opened at $618.23 on Tuesday. 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 Inc. has a 52-week low of $532.65 and a 52-week high of $714.78. The firm has a 50-day moving average of $594.20 and a 200-day moving average of $616.09. The stock has a market cap of $172.83 billion, a PE ratio of 60.02, a PEG ratio of 2.85 and a beta of 1.25.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. Intuit's payout ratio is 38.81%.

Wall Street Analysts Forecast Growth

INTU has been the subject of several recent analyst reports. Oppenheimer dropped their price objective on Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. BMO Capital Markets dropped their price target on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. StockNews.com lowered shares of Intuit from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Morgan Stanley reduced their price target on Intuit from $730.00 to $720.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Citigroup cut their target price on Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Intuit has a consensus rating of "Moderate Buy" and an average price target of $717.53.

Intuit Company 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.

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