World Investment Advisors Purchases 670 Shares of Intuit Inc. (NASDAQ:INTU)

World Investment Advisors lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 206.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 994 shares of the software maker’s stock after buying an additional 670 shares during the quarter. World Investment Advisors’ holdings in Intuit were worth $625,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of INTU. Brown Financial Advisors lifted its stake in shares of Intuit by 0.9% in the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after purchasing an additional 15 shares during the period. True North Advisors LLC lifted its stake in Intuit by 4.3% in the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after buying an additional 17 shares during the period. Great Diamond Partners LLC boosted its holdings in shares of Intuit by 2.8% during the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after buying an additional 17 shares in the last quarter. RB Capital Management LLC grew its position in shares of Intuit by 0.6% during the 3rd quarter. RB Capital Management LLC now owns 3,169 shares of the software maker’s stock worth $1,968,000 after buying an additional 18 shares during the period. Finally, Pacifica Partners Inc. increased its stake in shares of Intuit by 27.7% in the 4th quarter. Pacifica Partners Inc. now owns 83 shares of the software maker’s stock valued at $52,000 after acquiring an additional 18 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the transaction, the executive vice president now owns 21,882 shares in the company, valued at approximately $13,401,849.72. This represents a 27.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Marianna Tessel sold 7,385 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05. Following the completion of the sale, the executive vice president now owns 40,190 shares in the company, valued at $24,119,224.70. This represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,074 shares of company stock valued at $15,829,661 over the last ninety days. 2.68% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on INTU shares. Jefferies Financial Group reduced their price target on shares of Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a report on Monday, March 31st. Redburn Atlantic began coverage on Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Citigroup cut their price target on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Scotiabank lowered their price objective on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $718.00.

Intuit Stock Performance

Shares of INTU stock opened at $556.24 on Tuesday. 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 firm has a market cap of $155.50 billion, a price-to-earnings ratio of 54.00, a P/E/G ratio of 2.85 and a beta of 1.25. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $714.78. The firm’s 50-day simple moving average is $594.64 and its two-hundred day simple moving average is $620.01.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.75%. Intuit’s payout ratio is 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.