Signature Wealth Management Group Purchases 184 Shares of Intuit Inc. (NASDAQ:INTU)

Signature Wealth Management Group grew its position in Intuit Inc. (NASDAQ:INTU) by 6.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,063 shares of the software maker’s stock after acquiring an additional 184 shares during the period. Signature Wealth Management Group’s holdings in Intuit were worth $1,925,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of INTU. Nordea Investment Management AB lifted its holdings in shares of 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 buying an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. purchased a new position in shares of Intuit in the fourth quarter worth $621,000. Retireful LLC purchased a new stake in Intuit during the third quarter valued at $740,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Intuit during the third quarter valued at $56,144,000. Finally, Howe & Rusling Inc. raised its stake in Intuit by 8.0% during the third quarter. Howe & Rusling Inc. now owns 10,857 shares of the software maker’s stock valued at $6,742,000 after purchasing an additional 808 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on INTU shares. Scotiabank decreased their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and increased their target price for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Oppenheimer increased their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $721.61.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the sale, the insider now directly owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the sale, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 189,301 shares of company stock worth $121,470,200 in the last three months. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Up 3.0 %

Shares of Intuit stock opened at $598.80 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The firm’s 50-day moving average is $598.23 and its two-hundred day moving average is $623.61. The stock has a market cap of $167.40 billion, a price-to-earnings ratio of 58.14, a PEG ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

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

Intuit 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.