Retirement Wealth Solutions LLC Takes Position in Intuit Inc. (NASDAQ:INTU)

Retirement Wealth Solutions LLC bought a new position in Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 93 shares of the software maker’s stock, valued at approximately $58,000.

A number of other institutional investors also recently bought and sold shares of the stock. Intech Investment Management LLC boosted its holdings in shares of Intuit by 9.3% in the 2nd quarter. Intech Investment Management LLC now owns 5,030 shares of the software maker’s stock valued at $3,306,000 after acquiring an additional 429 shares during the last quarter. Ieq Capital LLC lifted its position in Intuit by 3.1% during the second quarter. Ieq Capital LLC now owns 19,565 shares of the software maker’s stock valued at $12,858,000 after purchasing an additional 596 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in Intuit by 2.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 49,681 shares of the software maker’s stock valued at $32,651,000 after purchasing an additional 1,047 shares during the last quarter. Benjamin Edwards Inc. grew its position in Intuit by 0.9% during the 2nd quarter. Benjamin Edwards Inc. now owns 2,467 shares of the software maker’s stock worth $1,622,000 after purchasing an additional 22 shares during the period. Finally, Davidson Capital Management Inc. raised its stake in shares of Intuit by 22.2% during the 2nd quarter. Davidson Capital Management Inc. now owns 5,188 shares of the software maker’s stock valued at $3,410,000 after buying an additional 943 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Intuit

In other news, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now owns 489 shares of the company’s stock, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock worth $188,992,187 over the last quarter. 2.68% of the stock is currently owned by company insiders.

Intuit Trading Down 0.5 %

Shares of INTU stock opened at $604.13 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The company’s 50-day moving average price is $647.69 and its 200-day moving average price is $637.39. The stock has a market cap of $169.11 billion, a price-to-earnings ratio of 58.65, a PEG ratio of 3.07 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.14 EPS. As a group, equities analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s dividend payout ratio (DPR) is 40.39%.

Analysts Set New Price Targets

INTU has been the topic of a number of recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Jefferies Financial Group upped their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Morgan Stanley raised their price target on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $726.53.

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.