Intuit Inc. (NASDAQ:INTU) Shares Purchased by Smith Salley Wealth Management

Smith Salley Wealth Management raised its holdings in Intuit Inc. (NASDAQ:INTU) by 7.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,978 shares of the software maker’s stock after purchasing an additional 135 shares during the period. Smith Salley Wealth Management’s holdings in Intuit were worth $1,243,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Raub Brock Capital Management LP grew its position in shares of Intuit by 1.0% in the 4th quarter. Raub Brock Capital Management LP now owns 30,263 shares of the software maker’s stock worth $19,021,000 after acquiring an additional 291 shares in the last quarter. Ameritas Advisory Services LLC lifted its stake in Intuit by 187.0% during the fourth quarter. Ameritas Advisory Services LLC now owns 1,016 shares of the software maker’s stock worth $639,000 after purchasing an additional 662 shares during the last quarter. HB Wealth Management LLC boosted its holdings in Intuit by 4.8% in the fourth quarter. HB Wealth Management LLC now owns 6,550 shares of the software maker’s stock worth $4,117,000 after purchasing an additional 299 shares during the period. Trust Co. of Vermont increased its stake in Intuit by 7.1% during the fourth quarter. Trust Co. of Vermont now owns 26,921 shares of the software maker’s stock valued at $16,920,000 after purchasing an additional 1,787 shares during the last quarter. Finally, Arkadios Wealth Advisors raised its holdings in shares of Intuit by 2.8% during the fourth quarter. Arkadios Wealth Advisors now owns 1,998 shares of the software maker’s stock worth $1,256,000 after purchasing an additional 55 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INTU has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Jefferies Financial Group raised 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. Morgan Stanley upped their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Finally, BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

Insiders Place Their Bets

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the sale, the insider now directly 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. In the last three months, insiders have sold 293,014 shares of company stock worth $188,992,187. Corporate insiders own 2.68% of the company’s stock.

Intuit Price Performance

NASDAQ INTU opened at $604.13 on Friday. The stock has a market capitalization of $169.11 billion, a P/E ratio of 58.65, a P/E/G ratio of 3.07 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The business’s fifty day moving average is $646.09 and its two-hundred day moving average is $637.06. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.14 earnings per share. On average, research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio is 40.39%.

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.