RMR Wealth Builders Raises Stock Position in Intuit Inc. (NASDAQ:INTU)

RMR Wealth Builders lifted its position in Intuit Inc. (NASDAQ:INTU) by 7.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,511 shares of the software maker’s stock after purchasing an additional 177 shares during the period. RMR Wealth Builders’ holdings in Intuit were worth $1,578,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB grew its holdings in 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 acquiring an additional 268,060 shares in the last quarter. Harvest Portfolios Group Inc. boosted its stake 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 purchasing an additional 1,853 shares in the last quarter. GAMMA Investing LLC increased its holdings in Intuit by 33.7% during the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after buying an additional 968 shares during the period. Retireful LLC bought a new position in Intuit in the third quarter worth approximately $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Intuit during the third quarter worth $56,144,000. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

INTU has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Oppenheimer boosted their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Stifel Nicolaus lowered their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Barclays cut their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average target price of $726.53.

Intuit Stock Performance

INTU opened at $621.45 on Thursday. Intuit Inc. has a 12-month low of $557.29 and a 12-month 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 firm has a market capitalization of $173.96 billion, a PE ratio of 60.33, a P/E/G ratio of 3.07 and a beta of 1.25. The firm has a 50 day moving average of $649.57 and a two-hundred day moving average of $637.71.

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

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be paid a dividend of $1.04 per share. The ex-dividend date is Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.67%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock valued at $188,992,187 over the last 90 days. 2.68% of the stock is currently owned by corporate insiders.

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.