Intuit Inc. (NASDAQ:INTU) Stock Position Raised by Evoke Wealth LLC

Evoke Wealth LLC lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,754 shares of the software maker’s stock after purchasing an additional 117 shares during the period. Evoke Wealth LLC’s holdings in Intuit were worth $4,245,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Proficio Capital Partners LLC increased its position in shares of Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after acquiring an additional 1,062,847 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Intuit in the 4th quarter worth approximately $300,854,000. Holocene Advisors LP grew its position in Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after purchasing an additional 312,212 shares in the last quarter. Nordea Investment Management AB raised its stake in Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares during the period. Finally, Sustainable Growth Advisers LP lifted its holdings in shares of 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 purchasing an additional 245,372 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In other news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 73,655 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the transaction, the insider now directly owns 6,301,286 shares in the company, valued at $4,189,977,112.84. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,301 shares of company stock worth $121,470,200 over the last ninety days. Company insiders own 2.68% of the company’s stock.

Intuit Trading Up 0.6 %

NASDAQ:INTU opened at $602.11 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company’s 50 day moving average is $597.76 and its 200-day moving average is $623.51. The firm has a market cap of $168.33 billion, a price-to-earnings ratio of 58.46, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78.

Intuit Dividend Announcement

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

Wall Street Analyst Weigh In

INTU has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and upped their price target for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Citigroup reduced their price target on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price objective (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price for the company in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group lifted their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

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.