Burling Wealth Partners LLC Purchases Shares of 4,683 Intuit Inc. (NASDAQ:INTU)

Burling Wealth Partners LLC purchased a new stake in Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,683 shares of the software maker’s stock, valued at approximately $2,943,000.

Other institutional investors have also made changes to their positions in the company. Invst LLC bought a new position in Intuit in the third quarter worth $203,000. Virtu Financial LLC acquired a new position in shares of Intuit in the 3rd quarter valued at $7,506,000. Anchor Investment Management LLC lifted its holdings in shares of Intuit by 6.6% during the 3rd quarter. Anchor Investment Management LLC now owns 2,415 shares of the software maker’s stock worth $1,500,000 after acquiring an additional 150 shares during the period. World Investment Advisors LLC acquired a new stake in shares of Intuit during the 3rd quarter valued at about $201,000. Finally, Wilmington Savings Fund Society FSB increased its stake in Intuit by 7.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 25,869 shares of the software maker’s stock valued at $16,065,000 after acquiring an additional 1,721 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Intuit

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the transaction, the executive vice president now owns 21,882 shares in the company, valued at approximately $13,401,849.72. The trade was a 27.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the sale, the insider now owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,696 shares of company stock valued at $14,347,731 in the last three months. Corporate insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on INTU shares. Mizuho increased their target price on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Scotiabank upgraded Intuit from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $600.00 to $700.00 in a research note on Thursday, April 17th. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Piper Sandler reiterated an “overweight” rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group cut their price target on shares of Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $717.53.

Intuit Stock Performance

INTU stock opened at $596.05 on Thursday. Intuit Inc. has a 1-year low of $532.65 and a 1-year 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 50-day moving average price of $592.04 and a 200-day moving average price of $615.98. The firm has a market cap of $166.63 billion, a PE ratio of 57.87, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.70%. Intuit’s dividend payout ratio is presently 38.81%.

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.