Intuit Inc. (NASDAQ:INTU) Shares Acquired by RMR Wealth Builders

RMR Wealth Builders increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 7.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,511 shares of the software maker’s stock after purchasing an additional 177 shares during the quarter. RMR Wealth Builders’ holdings in Intuit were worth $1,578,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Essex Savings Bank raised its stake in shares of Intuit by 3.5% in the 4th quarter. Essex Savings Bank now owns 646 shares of the software maker’s stock valued at $406,000 after acquiring an additional 22 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Intuit by 48.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,837 shares of the software maker’s stock worth $1,156,000 after purchasing an additional 600 shares in the last quarter. Park Avenue Securities LLC grew its stake in shares of Intuit by 65.9% in the fourth quarter. Park Avenue Securities LLC now owns 12,273 shares of the software maker’s stock valued at $7,714,000 after buying an additional 4,873 shares in the last quarter. Rockland Trust Co. raised its holdings in shares of Intuit by 3.0% in the 4th quarter. Rockland Trust Co. now owns 36,323 shares of the software maker’s stock valued at $22,829,000 after buying an additional 1,041 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its stake in Intuit by 10.6% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,216 shares of the software maker’s stock worth $2,021,000 after acquiring an additional 307 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on INTU shares. Piper Sandler reiterated an “overweight” rating and set a $765.00 price target on shares of Intuit in a research note on Friday, January 10th. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research note on Wednesday. Barclays decreased their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Stifel Nicolaus cut their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. lifted their target price on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Stock Performance

Shares of INTU opened at $621.45 on Thursday. The company’s 50 day simple moving average is $649.57 and its 200-day simple moving average is $637.71. The firm has a market cap of $173.96 billion, a PE ratio of 60.33, a price-to-earnings-growth ratio of 3.07 and a beta of 1.25. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. 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 (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period last year, the firm posted $1.14 EPS. Intuit’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Friday, January 10th. Intuit’s payout ratio is 40.39%.

Insider Transactions at Intuit

In other Intuit news, CEO Sasan K. Goodarzi sold 26,562 shares of Intuit stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the completion of the transaction, the chief executive officer now owns 37,869 shares in the company, valued at approximately $23,701,828.41. The trade was a 41.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock worth $188,992,187 over the last ninety days. 2.68% of the stock is currently owned by company insiders.

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.