Concord Wealth Partners Has $617,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Concord Wealth Partners boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 46.7% during the 4th quarter, Holdings Channel reports. The institutional investor 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 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in INTU. Parnassus Investments LLC lifted its stake in shares of Intuit by 42,268.5% in the 3rd quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock valued at $312,161,000 after purchasing an additional 609,512 shares during the period. Wellington Management Group LLP increased its position in shares of Intuit by 61.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock valued at $690,244,000 after buying an additional 514,259 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Intuit by 60,534.9% in the 4th quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after buying an additional 472,172 shares in the last quarter. FMR LLC increased its position in shares of Intuit by 5.0% in the 3rd quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after buying an additional 266,803 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its position in shares of Intuit by 56.2% in the 3rd quarter. AustralianSuper Pty Ltd now owns 617,821 shares of the software maker’s stock valued at $315,669,000 after buying an additional 222,317 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on INTU. Susquehanna increased their target price on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Evercore ISI increased their target price on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Barclays increased their price objective on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. increased their price objective 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. Finally, BMO Capital Markets restated an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research note on Tuesday, March 26th. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $650.23.

Insider Activity at Intuit

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

Intuit Stock Performance

Shares of NASDAQ:INTU opened at $615.20 on Thursday. The company’s 50 day simple moving average is $639.05 and its 200 day simple moving average is $605.00. The stock has a market capitalization of $172.26 billion, a price-to-earnings ratio of 62.78, a price-to-earnings-growth ratio of 3.81 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations 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 period last year, the firm posted $1.05 earnings per share. As a group, research analysts predict that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were paid a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. Intuit’s dividend payout ratio (DPR) is 36.73%.

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.