Intuit Inc. (NASDAQ:INTU) Shares Purchased by Heritage Wealth Advisors

Heritage Wealth Advisors raised its holdings in Intuit Inc. (NASDAQ:INTUFree Report) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,558 shares of the software maker’s stock after purchasing an additional 24 shares during the quarter. Heritage Wealth Advisors’ holdings in Intuit were worth $974,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Desjardins Global Asset Management Inc. boosted its holdings in Intuit by 1.4% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after acquiring an additional 16 shares during the period. JFS Wealth Advisors LLC increased its stake in Intuit by 1.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock worth $978,000 after buying an additional 16 shares during the period. EverSource Wealth Advisors LLC boosted its position in Intuit by 3.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after buying an additional 16 shares during the last quarter. GAM Holding AG raised its position in shares of Intuit by 0.3% during 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. Finally, Janiczek Wealth Management LLC lifted its stake in Intuit by 2.4% during the fourth 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 last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on INTU shares. Oppenheimer raised their price target on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. UBS Group lifted their target price on Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a research note on Monday, May 20th. KeyCorp increased their price target on Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Morgan Stanley boosted their price objective on Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Finally, Susquehanna dropped their target price on Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $679.41.

Get Our Latest Stock Analysis on Intuit

Intuit Price Performance

Intuit stock traded down $10.54 during mid-day trading on Tuesday, hitting $596.45. The company’s stock had a trading volume of 337,594 shares, compared to its average volume of 1,230,117. Intuit Inc. has a twelve month low of $400.22 and a twelve month high of $676.62. The stock’s fifty day moving average price is $634.12 and its two-hundred day moving average price is $622.77. The stock has a market capitalization of $166.74 billion, a P/E ratio of 56.00, a P/E/G ratio of 3.70 and a beta of 1.22. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32.

Intuit (NASDAQ:INTUGet Free Report) last announced its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same period in the previous year, the firm earned $7.80 earnings per share. Intuit’s revenue for the quarter was up 11.9% compared to the same quarter last year. Research analysts forecast that Intuit Inc. will post 11.28 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s payout ratio is 33.21%.

Insider Transactions at Intuit

In related news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is currently owned by insiders.

Intuit Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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