Ritholtz Wealth Management Grows Position in Intuit Inc. (NASDAQ:INTU)

Ritholtz Wealth Management grew its stake in Intuit Inc. (NASDAQ:INTU) by 4.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,252 shares of the software maker’s stock after purchasing an additional 153 shares during the period. Ritholtz Wealth Management’s holdings in Intuit were worth $2,033,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. OFI Invest Asset Management bought a new stake in shares of Intuit in the 3rd quarter valued at approximately $51,000. V Square Quantitative Management LLC lifted its stake in shares of Intuit by 18.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock worth $1,558,000 after acquiring an additional 482 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in shares of Intuit by 2,017.2% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 46,007 shares of the software maker’s stock worth $22,282,000 after acquiring an additional 43,834 shares during the last quarter. Rehmann Capital Advisory Group bought a new stake in shares of Intuit during the 2nd quarter worth approximately $285,000. Finally, Thematics Asset Management lifted its stake in shares of Intuit by 8.4% during the 2nd quarter. Thematics Asset Management now owns 21,897 shares of the software maker’s stock worth $10,033,000 after acquiring an additional 1,704 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders sold a total of 34,260 shares of company stock valued at $20,667,475 in the last quarter. 2.90% of the stock is currently owned by company insiders.

Intuit Stock Performance

Intuit stock traded up $1.26 during trading hours on Thursday, hitting $650.00. 1,163,209 shares of the stock traded hands, compared to its average volume of 1,243,718. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The firm’s 50 day moving average price is $646.73 and its 200-day moving average price is $587.31. The stock has a market capitalization of $182 billion, a price-to-earnings ratio of 66.33, a P/E/G ratio of 3.90 and a beta of 1.22. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. 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 business earned $1.05 EPS. As a group, equities analysts expect that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th will be issued a $0.90 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 0.55%. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

Analyst Ratings Changes

A number of brokerages recently issued reports on INTU. KeyCorp raised their price target on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays lifted their target price on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $700.00 target price on shares of Intuit in a research report on Tuesday. Mizuho lifted their price target on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average target price of $645.00.

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.