Smith Salley Wealth Management Has $1.24 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Smith Salley Wealth Management lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,978 shares of the software maker’s stock after purchasing an additional 135 shares during the quarter. Smith Salley Wealth Management’s holdings in Intuit were worth $1,243,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC boosted its position in Intuit by 68,404.7% during the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after purchasing an additional 483,621 shares during the period. Holocene Advisors LP boosted its holdings in shares of Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after buying an additional 312,212 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after buying an additional 268,060 shares during the period. Ameriprise Financial Inc. raised its holdings in Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after acquiring an additional 238,486 shares during the period. Finally, State Street Corp lifted its position in Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after acquiring an additional 221,885 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the topic of several research analyst reports. Barclays lowered their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Morgan Stanley raised their target price on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. JPMorgan Chase & Co. raised their price objective on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research note on Wednesday. One equities research 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $726.53.

Insider Activity at Intuit

In related news, EVP Laura A. Fennell sold 7,700 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total value of $5,063,828.00. Following the completion of the transaction, the executive vice president now owns 33,916 shares in the company, valued at $22,304,518.24. The trade was a 18.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now owns 6,378,105 shares in the company, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock valued at $188,992,187 in the last three months. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ:INTU opened at $604.13 on Friday. 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 business’s fifty day moving average price is $646.09 and its two-hundred day moving average price is $637.06. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The stock has a market capitalization of $169.11 billion, a price-to-earnings ratio of 58.65, a price-to-earnings-growth ratio of 3.07 and a beta of 1.25.

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, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the company posted $1.14 EPS. As a group, analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were issued a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. Intuit’s dividend payout ratio is 40.39%.

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.