Broadway Wealth Solutions Inc. Takes Position in Intuit Inc. (NASDAQ:INTU)

Broadway Wealth Solutions Inc. acquired a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 460 shares of the software maker’s stock, valued at approximately $289,000.

Other hedge funds have also modified their holdings of the company. R Squared Ltd bought a new position in shares of Intuit in the fourth quarter worth about $25,000. NewSquare Capital LLC raised its stake in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in Intuit in the fourth quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit in the 4th quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Intuit in the fourth quarter worth about $29,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Intuit news, CFO Sandeep Aujla sold 109 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the sale, the chief financial officer now owns 1,944 shares in the company, valued at $1,221,804. This trade represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark P. Notarainni sold 363 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $228,145.50. Following the transaction, the executive vice president now owns 19 shares of the company’s stock, valued at $11,941.50. This trade represents a 95.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 132,896 shares of company stock worth $82,946,716 in the last ninety days. 2.68% of the stock is owned by insiders.

Intuit Stock Performance

NASDAQ INTU opened at $615.30 on Friday. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The firm has a market capitalization of $172.01 billion, a price-to-earnings ratio of 59.74, a P/E/G ratio of 2.85 and a beta of 1.27. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm’s 50 day simple moving average is $596.00 and its 200 day simple moving average is $622.66.

Intuit Dividend Announcement

The firm also recently declared 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 is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

Analyst Ratings Changes

INTU has been the topic of a number of recent analyst reports. Scotiabank reduced 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 report on Thursday, February 27th. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective on the stock in a research note on Wednesday, February 26th. BMO Capital Markets decreased their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Mizuho upped their target price on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Finally, Citigroup lowered their price target on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average price target 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.