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

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

A number of other institutional investors have also recently modified their holdings of the business. Duncker Streett & Co. Inc. grew its position in shares of Intuit by 4.2% during the 4th quarter. Duncker Streett & Co. Inc. now owns 10,523 shares of the software maker’s stock valued at $6,577,000 after acquiring an additional 423 shares during the period. Tyche Wealth Partners LLC purchased a new position in Intuit in the 4th quarter valued at about $498,000. Diversified Portfolios Inc. purchased a new position in Intuit in the 4th quarter valued at about $205,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Intuit by 4.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 164,823 shares of the software maker’s stock valued at $103,019,000 after buying an additional 6,747 shares in the last quarter. Finally, Everence Capital Management Inc. lifted its stake in Intuit by 44.0% in the 4th quarter. Everence Capital Management Inc. now owns 8,830 shares of the software maker’s stock valued at $5,519,000 after buying an additional 2,700 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intuit

In other news, EVP Kerry J. Mclean sold 3,692 shares of Intuit 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 directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of the business’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 directly owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The disclosure for this sale can be found here. In the last three months, insiders sold 4,717 shares of company stock valued at $3,117,156. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on INTU. Wells Fargo & Company raised their price target 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. Stifel Nicolaus raised their target price on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Evercore ISI raised their target price on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. BMO Capital Markets reissued an “outperform” rating and issued a $700.00 target price on shares of Intuit in a research note on Tuesday, March 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $645.00.

Intuit Stock Up 0.5 %

Shares of NASDAQ:INTU traded up $2.96 during trading on Wednesday, hitting $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 50 day moving average price of $645.48 and a two-hundred day moving average price of $598.28. The company has a market capitalization of $172.05 billion, a PE ratio of 62.63, a P/E/G ratio of 3.73 and a beta of 1.21. 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 Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01.

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

Intuit Dividend Announcement

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

About Intuit

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.