Modera Wealth Management LLC Boosts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Modera Wealth Management LLC lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,765 shares of the software maker’s stock after buying an additional 71 shares during the quarter. Modera Wealth Management LLC’s holdings in Intuit were worth $1,738,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. R Squared Ltd bought a new position in shares of Intuit in the fourth quarter worth $25,000. Heck Capital Advisors LLC bought a new stake in shares of Intuit during the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit in the 4th quarter worth about $28,000. Sugar Maple Asset Management LLC bought a new position in Intuit in the 4th quarter worth about $29,000. Finally, Denver PWM LLC bought a new stake in shares of Intuit during the third quarter valued at about $32,000. 83.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares of the company’s stock, valued at $325,664.22. This trade represents a 97.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark P. Notarainni sold 3,649 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the transaction, the executive vice president now directly owns 19 shares of the company’s stock, valued at approximately $12,286.92. This trade represents a 99.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 224,460 shares of company stock valued at $144,750,747 in the last ninety days. Company insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INTU. JPMorgan Chase & Co. increased their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Stifel Nicolaus lowered their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. Finally, Barclays lowered their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $720.50.

Intuit Stock Performance

NASDAQ INTU opened at $601.09 on Tuesday. The firm has a market cap of $168.04 billion, a price-to-earnings ratio of 58.36, a PEG ratio of 2.85 and a beta of 1.24. The company has a 50-day simple moving average of $605.15 and a two-hundred day simple moving average of $626.69. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s payout ratio is 38.81%.

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.