Western Wealth Management LLC Purchases 155 Shares of Intuit Inc. (NASDAQ:INTU)

Western Wealth Management LLC grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 39.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 548 shares of the software maker’s stock after acquiring an additional 155 shares during the quarter. Western Wealth Management LLC’s holdings in Intuit were worth $343,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Desjardins Global Asset Management Inc. lifted its position in Intuit by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after buying an additional 16 shares during the last quarter. GAM Holding AG lifted its position in Intuit by 0.3% in the fourth quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock worth $3,671,000 after buying an additional 17 shares during the last quarter. Janiczek Wealth Management LLC increased its stake in Intuit by 2.4% in 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 period. Clear Harbor Asset Management LLC increased its stake in Intuit by 0.4% in the fourth quarter. Clear Harbor Asset Management LLC now owns 4,842 shares of the software maker’s stock worth $3,027,000 after purchasing an additional 18 shares during the period. Finally, Glenview Trust co increased its stake in Intuit by 1.9% in the third quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock worth $527,000 after purchasing an additional 19 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the transaction, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock worth $3,117,156 in the last three months. 2.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on INTU. BMO Capital Markets reiterated an “outperform” rating and issued a $700.00 target price on shares of Intuit in a research note on Tuesday, March 26th. JPMorgan Chase & Co. increased their target price on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. KeyCorp increased their target price on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Stifel Nicolaus increased their target price on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $645.00.

Intuit Trading Up 0.8 %

Shares of NASDAQ:INTU opened at $609.77 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01. The company has a market capitalization of $170.74 billion, a PE ratio of 62.22, a PEG ratio of 3.68 and a beta of 1.21. The business has a 50 day moving average of $641.98 and a two-hundred day moving average of $600.94.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping the consensus estimate of $2.30 by $0.33. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.05 earnings per share. As a group, analysts forecast that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s payout ratio is currently 36.73%.

About Intuit

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.