Intuit Inc. (NASDAQ:INTU) Shares Purchased by RMR Wealth Builders

RMR Wealth Builders grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 9.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,004 shares of the software maker’s stock after purchasing an additional 176 shares during the quarter. RMR Wealth Builders’ holdings in Intuit were worth $1,252,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of INTU. OFI Invest Asset Management acquired a new position in shares of Intuit in the 3rd quarter valued at approximately $51,000. V Square Quantitative Management LLC raised its holdings in Intuit by 18.8% in the third quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock valued at $1,558,000 after acquiring an additional 482 shares in the last quarter. Maryland State Retirement & Pension System boosted its stake in Intuit by 1.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker’s stock valued at $13,293,000 after acquiring an additional 226 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in Intuit by 12.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after acquiring an additional 2,074 shares during the last quarter. Finally, Hixon Zuercher LLC acquired a new position in Intuit during the 4th quarter worth $1,292,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock valued at $3,117,156 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

Intuit Stock Performance

NASDAQ:INTU opened at $631.77 on Thursday. The firm has a market capitalization of $176.90 billion, a PE ratio of 64.53, a price-to-earnings-growth ratio of 3.83 and a beta of 1.22. 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 Inc. has a 12-month low of $400.22 and a 12-month high of $671.01. The firm has a 50-day moving average price of $636.41 and a 200 day moving average price of $608.45.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.05 EPS. Research analysts anticipate that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s payout ratio is presently 36.73%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on INTU. JPMorgan Chase & Co. increased their price target on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. KeyCorp upped their target price on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Piper Sandler boosted their target price on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Wells Fargo & Company upped their price objective on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 21st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $700.00 target price on shares of Intuit in a research report on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $650.23.

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.