Broadway Wealth Solutions Inc. Takes $289,000 Position in Intuit Inc. (NASDAQ:INTU)

Broadway Wealth Solutions Inc. purchased a new stake in Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 460 shares of the software maker’s stock, valued at approximately $289,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its holdings in Intuit by 38.2% during the 3rd quarter. Larson Financial Group LLC now owns 300 shares of the software maker’s stock valued at $186,000 after buying an additional 83 shares during the period. D.A. Davidson & CO. raised its stake in shares of Intuit by 3.7% in the third quarter. D.A. Davidson & CO. now owns 9,603 shares of the software maker’s stock valued at $5,964,000 after acquiring an additional 343 shares during the period. Quantbot Technologies LP boosted its stake in shares of Intuit by 1,027.3% during the 3rd quarter. Quantbot Technologies LP now owns 124 shares of the software maker’s stock worth $77,000 after purchasing an additional 113 shares during the period. Cadence Bank bought a new position in Intuit during the 3rd quarter valued at about $1,598,000. Finally, Townsquare Capital LLC raised its position in Intuit by 11.9% in the 3rd quarter. Townsquare Capital LLC now owns 15,000 shares of the software maker’s stock worth $9,315,000 after purchasing an additional 1,595 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. BMO Capital Markets cut their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research report on Wednesday, January 15th. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

Intuit Stock Performance

Shares of INTU opened at $615.30 on Friday. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. 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 company’s fifty day moving average is $596.00 and its two-hundred day moving average is $622.66. The stock has a market capitalization of $172.01 billion, a P/E ratio of 59.74, a P/E/G ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

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 yield of 0.68%. Intuit’s payout ratio is currently 38.81%.

Insider Activity at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the business’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 sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a 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 shares were 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 of the company’s stock, valued at approximately $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 sold 132,896 shares of company stock valued at $82,946,716 in the last ninety days. Corporate insiders own 2.68% of the company’s stock.

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.