Ritholtz Wealth Management Has $2.50 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Ritholtz Wealth Management decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,984 shares of the software maker’s stock after selling 111 shares during the quarter. Ritholtz Wealth Management’s holdings in Intuit were worth $2,504,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Northwest Investment Counselors LLC acquired a new stake in Intuit during the 3rd quarter worth $27,000. Denver PWM LLC bought a new position in shares of Intuit in the 3rd quarter worth $32,000. Dunhill Financial LLC grew its stake in shares of Intuit by 110.3% during the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after purchasing an additional 32 shares during the period. Kimelman & Baird LLC bought a new stake in Intuit in the second quarter valued at about $49,000. Finally, Pacifica Partners Inc. lifted its stake in Intuit by 27.7% in the fourth quarter. Pacifica Partners Inc. now owns 83 shares of the software maker’s stock valued at $52,000 after buying an additional 18 shares during the period. 83.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 109 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the transaction, the chief financial officer now owns 1,944 shares in the company, valued at approximately $1,221,804. The trade was a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock valued at $188,992,187 in the last 90 days. 2.68% of the stock is currently owned by insiders.

Intuit Price Performance

NASDAQ INTU opened at $604.13 on Friday. The firm’s 50 day moving average is $647.69 and its 200-day moving average is $637.39. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $169.11 billion, a PE ratio of 58.65, a price-to-earnings-growth ratio of 3.07 and a beta of 1.25. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78.

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

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Stifel Nicolaus lowered their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Wednesday. Jefferies Financial Group upped their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Barclays reduced their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

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.