TrinityPoint Wealth LLC Increases Holdings in Intuit Inc. (NASDAQ:INTU)

TrinityPoint Wealth LLC raised its holdings in Intuit Inc. (NASDAQ:INTU) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,281 shares of the software maker’s stock after purchasing an additional 36 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Intuit were worth $805,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. True North Advisors LLC raised its holdings in shares of Intuit by 4.3% in the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after buying an additional 17 shares during the period. Great Diamond Partners LLC boosted its position in shares of Intuit by 2.8% in the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock valued at $394,000 after purchasing an additional 17 shares during the period. Drive Wealth Management LLC boosted its position in shares of Intuit by 2.4% in the 4th quarter. Drive Wealth Management LLC now owns 760 shares of the software maker’s stock valued at $478,000 after purchasing an additional 18 shares during the period. NewSquare Capital LLC boosted its position in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares during the period. Finally, Ethos Financial Group LLC raised its stake in Intuit by 3.7% during the 4th quarter. Ethos Financial Group LLC now owns 508 shares of the software maker’s stock valued at $319,000 after acquiring an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the transaction, the executive vice president now directly owns 21,882 shares in the company, valued at approximately $13,401,849.72. This trade represents a 27.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the transaction, the director now directly owns 8 shares in the company, valued at approximately $4,800. This represents a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,696 shares of company stock valued at $14,347,731 over the last ninety days. Corporate insiders own 2.68% of the company’s stock.

Intuit Trading Up 1.4%

Shares of NASDAQ INTU opened at $670.28 on Friday. The business has a 50-day moving average price of $608.44 and a two-hundred day moving average price of $619.15. Intuit Inc. has a one year low of $532.65 and a one year high of $714.78. The firm has a market capitalization of $187.38 billion, a PE ratio of 65.08, a PEG ratio of 2.85 and a beta of 1.24. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were issued a dividend of $1.04 per share. The ex-dividend date was Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.62%. Intuit’s dividend payout ratio is 38.81%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on INTU. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Jefferies Financial Group lowered their price target on Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Oppenheimer lowered their target price on Intuit from $722.00 to $642.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Redburn Atlantic assumed coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. Finally, Hsbc Global Res upgraded Intuit from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $720.16.

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.