Rialto Wealth Management LLC Purchases Shares of 66 Intuit Inc. (NASDAQ:INTU)

Rialto Wealth Management LLC acquired a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, Holdings Channel.com reports. The fund acquired 66 shares of the software maker’s stock, valued at approximately $41,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. R Squared Ltd purchased a new stake in shares of Intuit in the fourth quarter worth about $25,000. NewSquare Capital LLC increased its stake in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Intuit during the 4th quarter valued at approximately $29,000. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 0.5 %

Shares of INTU opened at $609.61 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $170.42 billion, a price-to-earnings ratio of 59.19, a PEG ratio of 2.85 and a beta of 1.27. The company has a 50-day moving average of $602.28 and a 200 day moving average of $625.12. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s payout ratio is 38.81%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on INTU. Oppenheimer upped their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Stifel Nicolaus lowered their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Scotiabank dropped their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. 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, the company currently has an average rating of “Moderate Buy” and an average price target of $721.61.

Insider Buying and Selling

In other news, EVP Laura A. Fennell sold 7,700 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total value of $5,063,828.00. Following the completion of the sale, the executive vice president now owns 33,916 shares of the company’s stock, valued at approximately $22,304,518.24. This represents a 18.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,811 shares of company stock valued at $142,391,012 over the last quarter. 2.68% of the stock is owned by corporate insiders.

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.