Dakota Wealth Management Has $2.53 Million Position in Intuit Inc. (NASDAQ:INTU)

Dakota Wealth Management lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,027 shares of the software maker’s stock after selling 30 shares during the period. Dakota Wealth Management’s holdings in Intuit were worth $2,531,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Brown Financial Advisors boosted its position in Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after acquiring an additional 15 shares during the period. Truvestments Capital LLC increased its position in Intuit by 1.5% in the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after purchasing an additional 16 shares during the last quarter. Aviso Wealth Management raised its stake in shares of Intuit by 4.9% during the 2nd quarter. Aviso Wealth Management now owns 362 shares of the software maker’s stock worth $238,000 after purchasing an additional 17 shares in the last quarter. CVA Family Office LLC lifted its holdings in shares of Intuit by 3.3% during the 3rd quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock valued at $330,000 after buying an additional 17 shares during the last quarter. Finally, Chris Bulman Inc grew its stake in shares of Intuit by 1.1% in the 3rd quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock valued at $944,000 after buying an additional 17 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Thursday. Oppenheimer raised their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Stifel Nicolaus decreased their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Scotiabank assumed coverage on Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Finally, Morgan Stanley increased their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $726.53.

Intuit Trading Up 0.4 %

Shares of INTU opened at $611.68 on Thursday. The stock’s 50-day moving average price is $642.42 and its 200 day moving average price is $635.95. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The firm has a market capitalization of $171.22 billion, a price-to-earnings ratio of 59.39, a P/E/G ratio of 2.98 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 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 business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period in the prior year, the company posted $1.14 earnings per share. Intuit’s revenue was up 10.2% on a year-over-year basis. As a group, research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid a $1.04 dividend. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. Intuit’s payout ratio is currently 40.39%.

Insider Buying and Selling

In other news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was 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 represents a 36.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This trade represents a 1.16 % 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 quarter. Corporate insiders own 2.68% of the company’s stock.

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.