Azimuth Capital Investment Management LLC Increases Holdings in Intuit Inc. (NASDAQ:INTU)

Azimuth Capital Investment Management LLC boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,528 shares of the software maker’s stock after purchasing an additional 669 shares during the quarter. Azimuth Capital Investment Management LLC’s holdings in Intuit were worth $11,016,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of INTU. Norges Bank purchased a new stake in shares of Intuit in the 4th quarter worth approximately $2,290,419,000. Proficio Capital Partners LLC lifted its holdings in Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after buying an additional 1,062,847 shares during the period. Wellington Management Group LLP boosted its position in Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after acquiring an additional 620,559 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Intuit in the 4th quarter valued at $300,854,000. Finally, Vanguard Group Inc. raised its position in shares of Intuit by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock worth $16,991,696,000 after acquiring an additional 353,185 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Buying and Selling at Intuit

In other news, EVP Marianna Tessel sold 7,385 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the completion of the sale, the executive vice president now owns 40,190 shares of the company’s stock, valued at $24,119,224.70. The trade was a 15.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Scott D. Cook sold 6,446 shares of the firm’s 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 transaction, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,774 shares of company stock valued at $15,015,315. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on INTU. Jefferies Financial Group lowered their price target on shares of Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Scotiabank cut their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. BMO Capital Markets dropped their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $785.00 price target (up from $765.00) on shares of Intuit 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $718.00.

Intuit Trading Down 2.2 %

Intuit stock opened at $544.07 on Wednesday. The firm has a market cap of $152.10 billion, a PE ratio of 52.82, a P/E/G ratio of 2.85 and a beta of 1.25. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $714.78. The stock’s 50 day simple moving average is $592.53 and its two-hundred day simple moving average is $618.78. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 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.