DecisionMap Wealth Management LLC Purchases Shares of 335 Intuit Inc. (NASDAQ:INTU)

DecisionMap Wealth Management LLC purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 335 shares of the software maker’s stock, valued at approximately $211,000.

A number of other large investors have also added to or reduced their stakes in INTU. R Squared Ltd purchased a new position in shares of Intuit in the fourth quarter worth about $25,000. NewSquare Capital LLC increased its holdings in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after buying an additional 18 shares during the period. Heck Capital Advisors LLC purchased a new position in shares of Intuit in the fourth quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit in the fourth quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Intuit in the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity

In other news, EVP Laura A. Fennell sold 4,788 shares of Intuit stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the transaction, the executive vice president now directly owns 30,010 shares in the company, valued at approximately $18,414,736.20. This trade represents a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 73,655 shares of Intuit stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the transaction, the insider now owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 189,301 shares of company stock worth $121,470,200. Insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $785.00 price objective (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Mizuho lifted their price objective on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. Finally, Barclays cut their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $721.61.

Intuit Stock Performance

Intuit stock opened at $591.14 on Thursday. The stock’s 50 day simple moving average is $599.68 and its two-hundred day simple moving average is $624.06. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The stock has a market cap of $165.26 billion, a price-to-earnings ratio of 57.39, a PEG 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.

Intuit Announces Dividend

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 issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.70%. 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.