Intuit Inc. (NASDAQ:INTU) Shares Acquired by TRUE Private Wealth Advisors

TRUE Private Wealth Advisors increased its holdings in Intuit Inc. (NASDAQ:INTU) by 18.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,189 shares of the software maker’s stock after acquiring an additional 186 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Intuit were worth $743,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in Intuit in the fourth quarter valued at about $1,173,468,000. Moneta Group Investment Advisors LLC increased its holdings in Intuit by 118,345.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,088,194 shares of the software maker’s stock valued at $812,767,000 after buying an additional 2,086,431 shares during the last quarter. Morgan Stanley increased its holdings in Intuit by 42.5% in the fourth quarter. Morgan Stanley now owns 3,444,913 shares of the software maker’s stock valued at $1,340,830,000 after buying an additional 1,027,752 shares during the last quarter. Parnassus Investments LLC increased its holdings in Intuit by 42,268.5% in the third quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock valued at $312,161,000 after buying an additional 609,512 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Intuit by 61.5% in the third quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock valued at $690,244,000 after buying an additional 514,259 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Up 0.5 %

Shares of INTU traded up $2.96 during mid-day trading on Wednesday, reaching $614.45. The company’s stock had a trading volume of 368,355 shares, compared to its average volume of 1,239,762. The business has a fifty day moving average of $645.48 and a 200 day moving average of $598.28. The company has a market cap of $172.05 billion, a price-to-earnings ratio of 62.63, a price-to-earnings-growth ratio of 3.73 and a beta of 1.21. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 earnings per share. As a group, analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Susquehanna upped their target price on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. increased their price objective on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Oppenheimer increased their price objective on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Evercore ISI increased their price objective on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Finally, Wells Fargo & Company increased their price objective on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $645.00.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the transaction, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is owned by insiders.

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.