Kolinsky Wealth Management LLC Has $728,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Kolinsky Wealth Management LLC cut its holdings in Intuit Inc. (NASDAQ:INTU) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,173 shares of the software maker’s stock after selling 22 shares during the quarter. Kolinsky Wealth Management LLC’s holdings in Intuit were worth $728,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. JAT Capital Mgmt LP acquired a new stake in shares of Intuit in the third quarter valued at $10,868,000. Circle Wealth Management LLC boosted its holdings in Intuit by 130.3% in the third quarter. Circle Wealth Management LLC now owns 2,319 shares of the software maker’s stock valued at $1,440,000 after acquiring an additional 1,312 shares during the last quarter. Eventide Asset Management LLC boosted its holdings in Intuit by 66.9% in the third quarter. Eventide Asset Management LLC now owns 5,971 shares of the software maker’s stock valued at $3,708,000 after acquiring an additional 2,393 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Intuit by 6.9% in the third quarter. Captrust Financial Advisors now owns 64,896 shares of the software maker’s stock valued at $40,300,000 after acquiring an additional 4,184 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in Intuit by 4.7% in the third quarter. Hantz Financial Services Inc. now owns 20,071 shares of the software maker’s stock valued at $12,464,000 after acquiring an additional 902 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on INTU. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a report on Friday, November 22nd. Morgan Stanley raised their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Piper Sandler reduced their target price on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Insider Activity at Intuit

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The trade was a 18.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the transaction, 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. In the last quarter, insiders have sold 130,265 shares of company stock valued at $83,336,625. 2.90% of the stock is owned by insiders.

Intuit Trading Up 0.9 %

NASDAQ:INTU opened at $641.73 on Friday. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. 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 stock has a market capitalization of $179.71 billion, a PE ratio of 62.30, a price-to-earnings-growth ratio of 3.14 and a beta of 1.25. The business’s 50-day simple moving average is $634.10 and its 200-day simple moving average is $631.46.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the firm earned $1.14 EPS. Intuit’s revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts expect that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s dividend payout ratio is presently 40.39%.

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.