Scissortail Wealth Management LLC Raises Stake in Intuit Inc. (NASDAQ:INTU)

Scissortail Wealth Management LLC lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 8,755.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 797 shares of the software maker’s stock after buying an additional 788 shares during the quarter. Scissortail Wealth Management LLC’s holdings in Intuit were worth $501,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of INTU. R Squared Ltd purchased a new stake in Intuit in the 4th quarter valued at $25,000. NewSquare Capital LLC raised its position in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in Intuit in the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit in the 4th quarter valued at $28,000. Finally, Summit Securities Group LLC purchased a new stake in Intuit in the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, Director Eve B. Burton sold 1,702 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the transaction, the director now owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were 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 directly 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 disclosure for this sale can be found here. Insiders have sold a total of 23,696 shares of company stock worth $14,347,731 in the last three months. Company insiders own 2.68% of the company’s stock.

Intuit Price Performance

NASDAQ:INTU opened at $670.28 on Friday. The firm has a market cap of $187.38 billion, a price-to-earnings ratio of 65.08, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. 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 company’s 50-day moving average is $608.44 and its two-hundred day moving average is $619.16. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $714.78.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were issued 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 yield of 0.62%. Intuit’s dividend payout ratio (DPR) is 38.81%.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of analyst reports. HSBC upgraded shares of Intuit from a “hold” rating to a “buy” rating and set a $699.00 price objective for the company in a research report on Wednesday, April 23rd. Jefferies Financial Group cut their price objective on shares of Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Citigroup cut their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Scotiabank upgraded shares of Intuit from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. Finally, Redburn Atlantic assumed coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $720.16.

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.