Axxcess Wealth Management LLC Has $5.48 Million Position in Intuit Inc. (NASDAQ:INTU)

Axxcess Wealth Management LLC lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 24.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,726 shares of the software maker’s stock after selling 2,760 shares during the period. Axxcess Wealth Management LLC’s holdings in Intuit were worth $5,484,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in INTU. R Squared Ltd acquired a new stake in shares of Intuit in the 4th quarter valued at approximately $25,000. NewSquare Capital LLC raised its holdings in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares during the period. Heck Capital Advisors LLC bought a new position in shares of Intuit during the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit in the 4th quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Intuit in the 4th quarter valued at $29,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Mizuho raised their target price on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a report on Wednesday, January 15th. Jefferies Financial Group raised their price objective on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Redburn Atlantic assumed coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $721.61.

Insiders Place Their Bets

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the 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 transaction, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 115,646 shares of company stock worth $72,494,045 in the last 90 days. Company insiders own 2.68% of the company’s stock.

Intuit Trading Down 0.5 %

Shares of NASDAQ:INTU opened at $599.03 on Wednesday. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78. The business has a 50 day moving average of $597.44 and a 200-day moving average of $623.29. 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 stock has a market cap of $167.47 billion, a PE ratio of 58.16, a P/E/G ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The company also recently disclosed 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. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is 38.81%.

Intuit Company 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.