Azimuth Capital Investment Management LLC Acquires 669 Shares of Intuit Inc. (NASDAQ:INTU)

Azimuth Capital Investment Management LLC boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 4.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,528 shares of the software maker's stock after purchasing an additional 669 shares during the period. Azimuth Capital Investment Management LLC's holdings in Intuit were worth $11,016,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Intuit in the fourth quarter worth about $2,290,419,000. Proficio Capital Partners LLC lifted its holdings in Intuit by 112,233.1% during the 4th 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 in the last quarter. Wellington Management Group LLP increased its stake in shares of Intuit by 13.3% in 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 buying an additional 620,559 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Intuit during the fourth quarter worth $300,854,000. Finally, Vanguard Group Inc. boosted its holdings in Intuit by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock valued at $16,991,696,000 after acquiring an additional 353,185 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on INTU shares. Citigroup cut their target price on shares of Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Scotiabank lowered their target price on shares of Intuit from $700.00 to $600.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. Mizuho increased their price target on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. 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. Finally, Morgan Stanley upgraded 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $713.56.

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Intuit Stock Up 0.4 %

Shares of NASDAQ:INTU traded up $2.63 during trading on Monday, hitting $589.67. 279,765 shares of the company were exchanged, compared to its average volume of 1,563,307. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $714.78. The stock has a market cap of $164.85 billion, a price-to-earnings ratio of 57.25, a P/E/G ratio of 2.85 and a beta of 1.25. 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 has a fifty day moving average price of $591.70 and a two-hundred day moving average price of $617.42.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Thursday, April 10th. Intuit's dividend payout ratio (DPR) is presently 38.81%.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the firm's stock in a transaction on Friday, February 28th. The stock was 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 owns 6,219,900 shares of the company's stock, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares in the company, valued at approximately $4,800. This represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock worth $14,347,731 in the last ninety days. Insiders own 2.68% of the company's stock.

About Intuit

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.