Dynasty Wealth Management LLC Buys 371 Shares of Intuit Inc. (NASDAQ:INTU)

Dynasty Wealth Management LLC grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 9.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,359 shares of the software maker’s stock after purchasing an additional 371 shares during the quarter. Dynasty Wealth Management LLC’s holdings in Intuit were worth $2,740,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Integrated Advisors Network LLC grew its stake in shares of Intuit by 9.6% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,416 shares of the software maker’s stock valued at $879,000 after buying an additional 124 shares during the period. Strategic Blueprint LLC increased its position in shares of Intuit by 1.9% during the third quarter. Strategic Blueprint LLC now owns 1,167 shares of the software maker’s stock valued at $725,000 after acquiring an additional 22 shares during the last quarter. Mutual Advisors LLC increased its holdings in Intuit by 21.5% during the third quarter. Mutual Advisors LLC now owns 2,690 shares of the software maker’s stock worth $1,625,000 after buying an additional 476 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of Intuit by 1.7% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,328 shares of the software maker’s stock worth $830,000 after purchasing an additional 22 shares during the period. Finally, Diversify Wealth Management LLC lifted its position in shares of Intuit by 18.8% during the 3rd quarter. Diversify Wealth Management LLC now owns 2,928 shares of the software maker’s stock valued at $1,763,000 after buying an additional 463 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Stock Performance

NASDAQ:INTU opened at $600.42 on Friday. The company has a fifty day simple moving average of $606.49 and a two-hundred day simple moving average of $627.35. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $168.07 billion, a price-to-earnings ratio of 58.29, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. 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%.

Insider Buying and Selling at Intuit

In other news, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the sale, the executive vice president now directly owns 30,010 shares in the company, valued at $18,414,736.20. This represents a 13.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s 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 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 disclosure for this sale can be found here. Over the last three months, insiders sold 218,014 shares of company stock valued at $140,855,687. Corporate insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on INTU shares. Scotiabank lowered their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday. Piper Sandler reissued an “overweight” rating and issued a $785.00 price target (up from $765.00) on shares of Intuit in a research note on Wednesday. Jefferies Financial Group lifted their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Finally, BMO Capital Markets lowered their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $717.88.

About Intuit

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.