Modera Wealth Management LLC Purchases 71 Shares of Intuit Inc. (NASDAQ:INTU)

Modera Wealth Management LLC lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,765 shares of the software maker’s stock after acquiring an additional 71 shares during the period. Modera Wealth Management LLC’s holdings in Intuit were worth $1,738,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd acquired a new position in Intuit in the fourth quarter valued at approximately $25,000. Heck Capital Advisors LLC bought a new stake in shares of Intuit in the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit during the 4th quarter valued at $28,000. Sugar Maple Asset Management LLC bought a new position in Intuit during the fourth quarter worth $29,000. Finally, Denver PWM LLC acquired a new stake in Intuit in the third quarter worth $32,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on INTU. JPMorgan Chase & Co. upped their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Stifel Nicolaus dropped their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group raised their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 target price (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Finally, Redburn Atlantic started coverage on Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus price target of $720.50.

Intuit Stock Performance

Shares of INTU opened at $601.09 on Tuesday. The stock has a 50 day moving average of $605.15 and a 200 day moving average of $626.69. The company has a market capitalization of $168.04 billion, a price-to-earnings ratio of 58.36, a PEG ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio is presently 38.81%.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction dated 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 sale, the insider now owns 6,219,900 shares of the company’s stock, 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 SEC, which is accessible through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 224,460 shares of company stock worth $144,750,747 in the last ninety days. Company insiders own 2.68% of the company’s stock.

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.