IMG Wealth Management Inc. Makes New $129,000 Investment in Intuit Inc. (NASDAQ:INTU)

IMG Wealth Management Inc. bought a new position in shares of Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 205 shares of the software maker’s stock, valued at approximately $129,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nordea Investment Management AB grew its holdings in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after buying an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. purchased a new stake in shares of Intuit during the fourth quarter worth about $621,000. Retireful LLC purchased a new stake in shares of Intuit during the third quarter worth about $740,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Intuit during the third quarter worth about $56,144,000. Finally, Howe & Rusling Inc. grew its holdings in shares of Intuit by 8.0% during the third quarter. Howe & Rusling Inc. now owns 10,857 shares of the software maker’s stock worth $6,742,000 after buying an additional 808 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intuit

In other Intuit news, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the transaction, the chief executive officer now directly owns 35,776 shares in the company, valued at $22,542,457.60. This represents a 67.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott D. Cook sold 73,655 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the transaction, the insider now owns 6,301,286 shares in the company, valued at $4,189,977,112.84. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 189,301 shares of company stock valued at $121,470,200 over the last ninety days. Corporate insiders own 2.68% of the company’s stock.

Intuit Trading Up 3.0 %

NASDAQ INTU opened at $598.80 on Monday. The company’s fifty day simple moving average is $598.23 and its 200-day simple moving average is $623.66. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $167.40 billion, a P/E ratio of 58.14, a PEG ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued 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 0.69%. Intuit’s dividend payout ratio is presently 38.81%.

Analysts Set New Price Targets

INTU has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. Stifel Nicolaus lowered their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Scotiabank lowered 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. Piper Sandler restated an “overweight” rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Finally, Barclays lowered their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. One equities research 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.