Intuit Inc. (NASDAQ:INTU) Shares Purchased by Wedmont Private Capital

Wedmont Private Capital raised its holdings in Intuit Inc. (NASDAQ:INTU) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,885 shares of the software maker’s stock after acquiring an additional 156 shares during the quarter. Wedmont Private Capital’s holdings in Intuit were worth $2,422,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in INTU. American Century Companies Inc. increased its stake in shares of Intuit by 10.6% during the 2nd quarter. American Century Companies Inc. now owns 51,454 shares of the software maker’s stock worth $33,816,000 after purchasing an additional 4,913 shares in the last quarter. Main Street Financial Solutions LLC purchased a new stake in shares of Intuit in the second quarter valued at $205,000. Wrapmanager Inc. boosted its stake in shares of Intuit by 9.4% during the second quarter. Wrapmanager Inc. now owns 362 shares of the software maker’s stock valued at $238,000 after acquiring an additional 31 shares during the last quarter. Prosperity Consulting Group LLC increased its position in Intuit by 28.6% during the 2nd quarter. Prosperity Consulting Group LLC now owns 1,066 shares of the software maker’s stock worth $701,000 after purchasing an additional 237 shares in the last quarter. Finally, J.W. Cole Advisors Inc. boosted its stake in shares of Intuit by 69.6% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 1,864 shares of the software maker’s stock worth $1,225,000 after purchasing an additional 765 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mark P. Notarainni sold 363 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $228,145.50. Following the completion of the transaction, the executive vice president now directly owns 19 shares in the company, valued at approximately $11,941.50. This represents a 95.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 1,300 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $626.42, for a total value of $814,346.00. Following the sale, the chief financial officer now owns 644 shares in the company, valued at $403,414.48. This represents a 66.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 291,936 shares of company stock valued at $188,324,604 in the last 90 days. 2.68% of the stock is currently owned by insiders.

Intuit Stock Down 1.3 %

NASDAQ INTU traded down $7.95 during trading on Monday, reaching $615.48. The company’s stock had a trading volume of 638,234 shares, compared to its average volume of 1,242,056. The stock has a market capitalization of $172.28 billion, a PE ratio of 59.76, a PEG ratio of 3.24 and a beta of 1.25. The business has a 50-day moving average price of $649.58 and a 200-day moving average price of $638.21. 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 1-year low of $557.29 and a 1-year high of $714.78.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.14 EPS. On average, research analysts forecast that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a dividend of $1.04 per share. The ex-dividend date is 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%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on INTU shares. JPMorgan Chase & Co. upped their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Jefferies Financial Group increased their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Morgan Stanley upped their price objective on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Finally, Stifel Nicolaus decreased their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $737.44.

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.