RWA Wealth Partners LLC Buys 433 Shares of Intuit Inc. (NASDAQ:INTU)

RWA Wealth Partners LLC lifted its position in Intuit Inc. (NASDAQ:INTU) by 12.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,795 shares of the software maker’s stock after acquiring an additional 433 shares during the quarter. RWA Wealth Partners LLC’s holdings in Intuit were worth $2,385,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP boosted its stake in shares of Intuit by 1,027.3% in the 3rd quarter. Quantbot Technologies LP now owns 124 shares of the software maker’s stock worth $77,000 after buying an additional 113 shares during the last quarter. Edgestream Partners L.P. boosted its position in Intuit by 242.5% in the third quarter. Edgestream Partners L.P. now owns 1,627 shares of the software maker’s stock worth $1,010,000 after purchasing an additional 1,152 shares during the last quarter. Erste Asset Management GmbH bought a new position in Intuit in the 3rd quarter valued at $47,265,000. FSA Wealth Management LLC purchased a new stake in shares of Intuit during the 3rd quarter valued at $1,305,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Intuit during the 3rd quarter worth $26,065,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 35,776 shares in the company, valued at $22,542,457.60. The trade was a 67.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,896 shares of company stock valued at $82,946,716. 2.68% of the stock is owned by corporate insiders.

Intuit Trading Down 2.7 %

Shares of INTU stock opened at $598.92 on Monday. The company has a market capitalization of $167.44 billion, a PE ratio of 58.15, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The business’s fifty day moving average is $595.90 and its 200 day moving average is $622.23. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on INTU shares. JPMorgan Chase & Co. upgraded shares of 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. Scotiabank decreased their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Redburn Atlantic began coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating for the company. Citigroup lowered their target price on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average price target of $721.61.

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.