Bartlett & CO. Wealth Management LLC Has $78.79 Million Stake in Intuit Inc. (NASDAQ:INTU)

Bartlett & CO. Wealth Management LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 3.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 125,370 shares of the software maker’s stock after buying an additional 3,976 shares during the period. Intuit makes up 1.1% of Bartlett & CO. Wealth Management LLC’s investment portfolio, making the stock its 26th biggest holding. Bartlett & CO. Wealth Management LLC’s holdings in Intuit were worth $78,794,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in INTU. Thrivent Financial for Lutherans raised its holdings in shares of Intuit by 1.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 14,345 shares of the software maker’s stock worth $9,427,000 after buying an additional 186 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Intuit by 14.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 525 shares of the software maker’s stock valued at $340,000 after acquiring an additional 68 shares in the last quarter. Public Sector Pension Investment Board raised its stake in shares of Intuit by 71.9% in the second quarter. Public Sector Pension Investment Board now owns 10,717 shares of the software maker’s stock worth $7,043,000 after acquiring an additional 4,483 shares during the last quarter. Mill Creek Capital Advisors LLC acquired a new position in shares of Intuit during the second quarter worth approximately $201,000. Finally, Insigneo Advisory Services LLC increased its holdings in shares of Intuit by 27.7% in the second quarter. Insigneo Advisory Services LLC now owns 3,580 shares of the software maker’s stock valued at $2,159,000 after purchasing an additional 777 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research note on Wednesday, January 15th. JPMorgan Chase & Co. lifted their price objective on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Jefferies Financial Group upped their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Finally, Barclays dropped their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $726.53.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated 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 directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is owned by insiders.

Intuit Price Performance

NASDAQ INTU opened at $611.68 on Thursday. 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 stock has a market cap of $171.22 billion, a price-to-earnings ratio of 59.39, a PEG ratio of 3.00 and a beta of 1.25. The business has a 50 day simple moving average of $642.42 and a 200 day simple moving average of $635.95. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business 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%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business posted $1.14 earnings per share. Analysts anticipate 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 issued a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s payout ratio is presently 40.39%.

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.