Rialto Wealth Management LLC Makes New $41,000 Investment in Intuit Inc. (NASDAQ:INTU)

Rialto Wealth Management LLC bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 66 shares of the software maker’s stock, valued at approximately $41,000.

Other hedge funds have also recently made changes to their positions in the company. Portside Wealth Group LLC raised its stake in Intuit by 12.0% during the third quarter. Portside Wealth Group LLC now owns 558 shares of the software maker’s stock valued at $347,000 after buying an additional 60 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Intuit by 10.9% during the third quarter. Assetmark Inc. now owns 62,095 shares of the software maker’s stock valued at $38,561,000 after acquiring an additional 6,098 shares in the last quarter. First Personal Financial Services raised its position in shares of Intuit by 9.0% in the 3rd quarter. First Personal Financial Services now owns 5,361 shares of the software maker’s stock worth $3,329,000 after purchasing an additional 444 shares during the last quarter. Atria Investments Inc boosted its stake in Intuit by 3.0% in the 3rd quarter. Atria Investments Inc now owns 28,213 shares of the software maker’s stock worth $17,520,000 after purchasing an additional 821 shares in the last quarter. Finally, Sustainable Insight Capital Management LLC purchased a new stake in Intuit during the 3rd quarter valued at about $294,000. 83.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on INTU shares. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Stifel Nicolaus reduced their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Redburn Atlantic began coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. Finally, Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $721.61.

Intuit Stock Up 0.5 %

INTU opened at $609.61 on Monday. The firm’s 50 day simple moving average is $602.28 and its two-hundred day simple moving average is $625.12. The company has a market capitalization of $170.42 billion, a PE ratio of 59.19, a PEG ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 1-year low of $553.24 and a 1-year 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Insider Buying and Selling at Intuit

In related news, EVP Laura A. Fennell sold 7,700 shares of Intuit stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the transaction, the executive vice president now owns 33,916 shares in the company, valued at approximately $22,304,518.24. The trade was a 18.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 73,655 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the completion of the transaction, the insider now directly owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,811 shares of company stock valued at $142,391,012. Company insiders own 2.68% of the company’s stock.

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.