ICW Investment Advisors LLC Buys 327 Shares of Intuit Inc. (NASDAQ:INTU)

ICW Investment Advisors LLC lifted its stake in Intuit Inc. (NASDAQ:INTU) by 33.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,295 shares of the software maker’s stock after purchasing an additional 327 shares during the quarter. ICW Investment Advisors LLC’s holdings in Intuit were worth $814,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Nordea Investment Management AB raised its holdings in Intuit by 83.2% in the 4th 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 last quarter. Whalen Wealth Management Inc. purchased a new position in Intuit in the 4th quarter worth approximately $621,000. Beacon Investment Advisory Services Inc. raised its holdings in Intuit by 3.8% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker’s stock worth $27,223,000 after acquiring an additional 1,602 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Intuit by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock worth $107,854,000 after acquiring an additional 3,648 shares during the last quarter. Finally, Douglas Lane & Associates LLC raised its holdings in Intuit by 109.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker’s stock worth $15,502,000 after acquiring an additional 12,916 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 8 shares of the company’s stock, valued at approximately $4,800. This represents a 99.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,348 shares of company stock valued at $73,515,245. Company insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on INTU shares. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. Redburn Atlantic began coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Piper Sandler reiterated an “overweight” rating and set a $785.00 target price (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Finally, Citigroup decreased their target price on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. One 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Trading Up 0.6 %

Shares of Intuit stock opened at $604.04 on Monday. The company has a market capitalization of $168.87 billion, a P/E ratio of 58.64, a P/E/G ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company has a fifty day moving average of $596.08 and a 200 day moving average of $622.80. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78.

Intuit Dividend Announcement

The company also recently announced 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. This represents a $4.16 annualized dividend and a yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is currently 38.81%.

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.