Concentrum Wealth Management Has $258,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Concentrum Wealth Management trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 413 shares of the software maker’s stock after selling 42 shares during the quarter. Concentrum Wealth Management’s holdings in Intuit were worth $258,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Desjardins Global Asset Management Inc. lifted its stake in Intuit by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock valued at $738,000 after buying an additional 16 shares in the last quarter. GAM Holding AG lifted its position in Intuit by 0.3% in the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after acquiring an additional 17 shares in the last quarter. Janiczek Wealth Management LLC boosted its stake in Intuit by 2.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after purchasing an additional 17 shares during the period. Clear Harbor Asset Management LLC increased its holdings in Intuit by 0.4% during the 4th quarter. Clear Harbor Asset Management LLC now owns 4,842 shares of the software maker’s stock worth $3,027,000 after purchasing an additional 18 shares in the last quarter. Finally, Glenview Trust co raised its stake in shares of Intuit by 1.9% in the 3rd quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock valued at $527,000 after purchasing an additional 19 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock traded up $0.46 during trading on Thursday, reaching $615.66. 507,131 shares of the company’s stock were exchanged, compared to its average volume of 1,236,663. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $172.38 billion, a PE ratio of 62.86, a PEG ratio of 3.81 and a beta of 1.22. Intuit Inc. has a twelve month low of $400.22 and a twelve month high of $671.01. The firm’s fifty day moving average price is $639.05 and its 200-day moving average price is $605.00.

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

Intuit Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 0.58%. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

Insider Activity at Intuit

In related news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction on 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 sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at approximately $2,083,313.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was 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 in the company, valued at approximately $15,233,800.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value 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 disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock worth $3,117,156 in the last ninety days. 2.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Tuesday. KeyCorp raised their price target on shares of Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Piper Sandler boosted their price objective on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. increased their target price on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Finally, Oppenheimer lifted their price target on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $650.23.

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.