Independent Solutions Wealth Management LLC Sells 120 Shares of Intuit Inc. (NASDAQ:INTU)

Independent Solutions Wealth Management LLC decreased its position in Intuit Inc. (NASDAQ:INTU) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,523 shares of the software maker’s stock after selling 120 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Intuit were worth $2,843,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTU. Proficio Capital Partners LLC increased its position 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 during the last quarter. Raymond James Financial Inc. bought a new position in Intuit during the fourth quarter valued at about $300,854,000. Holocene Advisors LP increased its holdings in Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after buying an additional 312,212 shares during the last quarter. Nordea Investment Management AB raised its position in Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares during the period. Finally, Sustainable Growth Advisers LP boosted its stake in Intuit by 20.7% in the fourth 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 last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Stifel Nicolaus lowered their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Mizuho boosted their target price on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. BMO Capital Markets cut their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective on the stock in a research note on Wednesday, February 26th. Finally, Redburn Atlantic started coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Trading Down 0.4 %

Shares of INTU stock opened at $600.42 on Friday. The company has a market capitalization of $167.85 billion, a PE ratio of 58.29, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The business’s fifty day moving average is $596.47 and its 200 day moving average is $623.00. 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. Shareholders of record on Thursday, April 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. Intuit’s payout ratio is currently 38.81%.

Insider Activity

In related news, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the transaction, the insider now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the transaction, the executive vice president now directly owns 30,010 shares in the company, valued at approximately $18,414,736.20. This represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 115,646 shares of company stock worth $72,494,045. 2.68% of the stock is currently owned by insiders.

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.