Congress Wealth Management LLC DE Increases Position in Intuit Inc. (NASDAQ:INTU)

Congress Wealth Management LLC DE boosted its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,207 shares of the software maker's stock after purchasing an additional 584 shares during the period. Congress Wealth Management LLC DE's holdings in Intuit were worth $18,986,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on INTU shares. JPMorgan Chase & Co. upgraded Intuit from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. Redburn Atlantic initiated coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a "neutral" rating for the company. Citigroup reduced their price target 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 price objective 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. Finally, Piper Sandler reiterated an "overweight" rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $721.61.

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Insider Activity

In related news, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the sale, the chief financial officer now owns 1,944 shares of the company's stock, valued at $1,221,804. The trade was a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total value 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 approximately $3,758,436,774. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 132,896 shares of company stock valued at $82,946,716 over the last three months. Insiders own 2.68% of the company's stock.

Intuit Stock Up 0.1 %

Shares of INTU stock traded up $0.82 during mid-day trading on Thursday, hitting $615.68. The company's stock had a trading volume of 522,421 shares, compared to its average volume of 1,438,132. 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 Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The stock has a market cap of $172.12 billion, a price-to-earnings ratio of 59.83, a PEG ratio of 2.85 and a beta of 1.27. The business has a 50-day moving average price of $595.84 and a 200 day moving average price of $622.71.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend 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 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.