Azimuth Capital Investment Management LLC Grows Stake in Intuit Inc. (NASDAQ:INTU)

Azimuth Capital Investment Management LLC lifted its stake in Intuit Inc. (NASDAQ:INTU) by 4.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,528 shares of the software maker’s stock after purchasing an additional 669 shares during the quarter. Azimuth Capital Investment Management LLC’s holdings in Intuit were worth $11,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. R Squared Ltd bought a new position in shares of Intuit in the fourth quarter worth approximately $25,000. NewSquare Capital LLC lifted 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 acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in Intuit in the 4th quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit during the 4th quarter valued at about $28,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Intuit during the 4th quarter valued at about $28,000. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 2.2 %

Shares of NASDAQ INTU opened at $544.07 on Wednesday. The firm’s 50-day moving average price is $592.53 and its 200-day moving average price is $618.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $714.78. The stock has a market capitalization of $152.10 billion, a price-to-earnings ratio of 52.82, a P/E/G ratio of 2.85 and a beta of 1.25.

Intuit Announces Dividend

The business 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 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio is currently 38.81%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on INTU shares. Scotiabank lowered their price objective on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Piper Sandler restated an “overweight” rating and issued a $785.00 price target (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Citigroup reduced their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, BMO Capital Markets lowered their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $718.00.

Insider Activity at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. The trade was a 36.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction 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 completion of the sale, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,774 shares of company stock worth $15,015,315. Company insiders own 2.68% of the company’s stock.

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.