Intuit Inc. (NASDAQ:INTU) Shares Acquired by Concord Wealth Partners

Concord Wealth Partners lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 46.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 987 shares of the software maker’s stock after purchasing an additional 314 shares during the quarter. Concord Wealth Partners’ holdings in Intuit were worth $617,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in INTU. NewSquare Capital LLC acquired a new stake in shares of Intuit during the 3rd quarter worth approximately $25,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Intuit during the 4th quarter worth approximately $25,000. Cape Investment Advisory Inc. acquired a new stake in shares of Intuit during the 3rd quarter worth approximately $26,000. MCF Advisors LLC raised its position in shares of Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares during the period. Finally, Aspire Private Capital LLC raised its position in shares of Intuit by 144.4% during the 3rd quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock worth $34,000 after purchasing an additional 39 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock worth $3,117,156 in the last three months. 2.90% of the stock is currently owned by insiders.

Intuit Stock Down 1.7 %

Shares of INTU stock opened at $615.20 on Thursday. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The stock has a market cap of $172.26 billion, a PE ratio of 62.78, a price-to-earnings-growth ratio of 3.81 and a beta of 1.22. The business’s fifty day moving average is $639.05 and its 200-day moving average is $605.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17.

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

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were issued 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 was Tuesday, April 9th. Intuit’s payout ratio is 36.73%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on INTU shares. Mizuho increased their price target on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Tuesday. Oppenheimer raised their target price on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. BMO Capital Markets restated an “outperform” rating and issued a $700.00 target price on shares of Intuit in a research report on Tuesday, March 26th. Finally, Susquehanna raised their target price on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average price target of $650.23.

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.