Trajan Wealth LLC Grows Position in Intuit Inc. (NASDAQ:INTU)

Trajan Wealth LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 12.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,653 shares of the software maker's stock after buying an additional 3,139 shares during the period. Trajan Wealth LLC's holdings in Intuit were worth $18,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTU. Nordea Investment Management AB grew its position in shares of Intuit by 83.2% during the fourth 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 in the last quarter. Whalen Wealth Management Inc. bought a new position in shares of Intuit during the 4th quarter valued at approximately $621,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Intuit by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock valued at $107,854,000 after purchasing an additional 3,648 shares in the last quarter. Beacon Investment Advisory Services Inc. raised its stake in Intuit by 3.8% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker's stock valued at $27,223,000 after purchasing an additional 1,602 shares in the last quarter. Finally, Douglas Lane & Associates LLC lifted its position in Intuit by 109.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker's stock valued at $15,502,000 after purchasing an additional 12,916 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Insider Buying and Selling at Intuit

In related news, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares in the company, valued at $4,800. The trade was a 99.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the business's stock in a transaction that occurred on 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is owned by insiders.

Intuit Stock Performance

Intuit stock traded up $12.49 during trading hours on Wednesday, hitting $596.05. 1,744,704 shares of the stock traded hands, compared to its average volume of 1,577,859. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $714.78. The stock has a market capitalization of $166.63 billion, a price-to-earnings ratio of 57.87, a P/E/G ratio of 2.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm's 50 day moving average price is $591.87 and its 200-day moving average price is $616.12.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.70%. Intuit's payout ratio is currently 38.81%.

Analysts Set New Price Targets

INTU has been the topic of several recent research reports. BNP Paribas cut shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 target price on the stock. in a research report on Wednesday, January 15th. Oppenheimer cut their target price on Intuit from $722.00 to $642.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. StockNews.com lowered shares of Intuit from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Piper Sandler reaffirmed an "overweight" rating and set a $785.00 price target (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Finally, Mizuho raised their price objective on shares of Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $717.53.

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.