Sage Private Wealth Group LLC Has $413,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Sage Private Wealth Group LLC boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 657 shares of the software maker’s stock after purchasing an additional 24 shares during the period. Sage Private Wealth Group LLC’s holdings in Intuit were worth $413,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in INTU. Nordea Investment Management AB lifted its position in shares of Intuit by 83.2% during the 4th 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 during the period. Whalen Wealth Management Inc. acquired a new position in Intuit during the fourth quarter worth $621,000. Harvest Portfolios Group Inc. lifted its holdings in shares of Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after acquiring an additional 1,853 shares during the period. Retireful LLC bought a new position in shares of Intuit during the third quarter valued at $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Intuit in the 3rd quarter valued at $56,144,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Down 0.2 %

Shares of NASDAQ:INTU opened at $585.88 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $164.00 billion, a price-to-earnings ratio of 56.88, a P/E/G ratio of 2.91 and a beta of 1.24. The company has a 50 day moving average of $625.25 and a 200-day moving average of $631.39. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 EPS. On average, sell-side analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.71%. The ex-dividend date was Friday, January 10th. Intuit’s payout ratio is 40.39%.

Insiders Place Their Bets

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the company’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 value of $667,583.84. Following the completion of the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Laura A. Fennell sold 4,788 shares of Intuit 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 transaction, the executive vice president now directly owns 30,010 shares in the company, valued at approximately $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research 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. Morgan Stanley boosted their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Finally, Oppenheimer lifted their price objective on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research 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 assigned a buy rating to the company. According to data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average price target of $726.53.

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.