RMR Wealth Builders Has $1.58 Million Stake in Intuit Inc. (NASDAQ:INTU)

RMR Wealth Builders boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,511 shares of the software maker’s stock after acquiring an additional 177 shares during the quarter. RMR Wealth Builders’ holdings in Intuit were worth $1,578,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its stake in shares of Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after acquiring an additional 268,060 shares in the last quarter. Harvest Portfolios Group Inc. grew its holdings in 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 during the last quarter. GAMMA Investing LLC raised its position in shares of Intuit by 33.7% in the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after purchasing an additional 968 shares during the period. Retireful LLC acquired a new stake in shares of Intuit in the third quarter worth $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Intuit in the 3rd quarter valued at $56,144,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Trading Down 0.3 %

Shares of INTU stock traded down $1.58 during trading hours on Friday, reaching $623.43. The company had a trading volume of 2,130,732 shares, compared to its average volume of 1,289,465. The company has a 50 day moving average of $649.55 and a 200 day moving average of $638.16. The firm has a market cap of $174.51 billion, a price-to-earnings ratio of 60.53, a P/E/G ratio of 3.24 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.14 EPS. On average, equities research analysts anticipate that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Dividend Announcement

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

Insiders Place Their Bets

In other Intuit news, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the transaction, the chief executive officer now owns 35,776 shares of the company’s stock, valued at $22,542,457.60. This represents a 67.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now owns 489 shares in the company, valued at $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 291,936 shares of company stock worth $188,324,604. Corporate insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

INTU has been the subject of a number of research analyst reports. Jefferies Financial Group upped their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Barclays reduced their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Scotiabank started coverage on shares of Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price on the stock. Morgan Stanley raised their price target on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

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.