VSM Wealth Advisory LLC Buys Shares of 56 Intuit Inc. (NASDAQ:INTU)

VSM Wealth Advisory LLC bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 56 shares of the software maker’s stock, valued at approximately $35,000.

Other hedge funds have also made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of Intuit during the fourth quarter worth $25,000. NewSquare Capital LLC boosted its holdings in shares of 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 purchasing an additional 18 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit during the fourth quarter worth $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Intuit during the fourth quarter worth $29,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the topic of several analyst reports. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. Citigroup reduced their target price on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. BMO Capital Markets reduced their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Piper Sandler reiterated an “overweight” rating and issued a $785.00 target price (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Finally, Jefferies Financial Group lifted their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. 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 stock. According to MarketBeat, Intuit has an average rating of “Moderate Buy” and an average target price of $721.61.

Insider Transactions at Intuit

In other news, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the sale, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the sale, the insider now directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 115,646 shares of company stock valued at $72,494,045. 2.68% of the stock is currently owned by insiders.

Intuit Stock Down 0.4 %

Shares of NASDAQ INTU opened at $600.42 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 cap of $167.85 billion, a price-to-earnings ratio of 58.29, a PEG ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s 50-day simple moving average is $596.47 and its 200-day simple moving average is $623.00.

Intuit Dividend Announcement

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

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.