Grant Private Wealth Management Inc Acquires Shares of 2,932 Intuit Inc. (NASDAQ:INTU)

Grant Private Wealth Management Inc bought a new position in Intuit Inc. (NASDAQ:INTU) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 2,932 shares of the software maker’s stock, valued at approximately $1,843,000. Intuit accounts for 2.0% of Grant Private Wealth Management Inc’s holdings, making the stock its 11th biggest holding.

A number of other large investors have also recently modified their holdings of the stock. R Squared Ltd purchased a new stake in Intuit in the fourth quarter worth $25,000. NewSquare Capital LLC grew its position in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after buying an additional 18 shares during the period. Summit Securities Group LLC bought a new position in shares of Intuit in the 4th quarter worth about $28,000. Heck Capital Advisors LLC purchased a new position in Intuit during the 4th quarter valued at about $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit during the fourth quarter worth about $28,000. Institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the subject of several recent research reports. Jefferies Financial Group lowered their target price on shares of Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a report on Monday. Piper Sandler reissued an “overweight” rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. Scotiabank decreased their target price 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, Citigroup cut their price target on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $718.00.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sandeep Aujla sold 109 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the sale, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This trade represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,334 shares of company stock valued at $19,064,325 over the last three months. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Up 1.2 %

INTU stock opened at $620.91 on Thursday. The business’s 50-day moving average price is $596.37 and its 200-day moving average price is $621.71. The stock has a market cap of $173.58 billion, a P/E ratio of 60.28, a PEG ratio of 2.85 and a beta of 1.27. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. Intuit’s payout ratio is currently 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.