Pacific Wealth Management Grows Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Pacific Wealth Management grew its stake in Intuit Inc. (NASDAQ:INTU) by 20.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 613 shares of the software maker’s stock after acquiring an additional 105 shares during the period. Intuit accounts for 0.2% of Pacific Wealth Management’s holdings, making the stock its 18th biggest holding. Pacific Wealth Management’s holdings in Intuit were worth $383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of INTU. OFI Invest Asset Management acquired a new position in shares of Intuit in the 3rd quarter valued at about $51,000. V Square Quantitative Management LLC grew its holdings in shares of Intuit by 18.8% during the third quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock worth $1,558,000 after buying an additional 482 shares in the last quarter. Compagnie Lombard Odier SCmA raised its holdings in Intuit by 27.5% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 8,800 shares of the software maker’s stock valued at $4,496,000 after acquiring an additional 1,900 shares during the last quarter. Glenmede Trust Co. NA raised its holdings in shares of Intuit by 12.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock worth $9,400,000 after acquiring an additional 2,074 shares during the period. Finally, Hixon Zuercher LLC purchased a new stake in shares of Intuit in the 4th quarter valued at approximately $1,292,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Performance

NASDAQ INTU traded down $2.60 on Thursday, hitting $610.61. 226,811 shares of the company’s stock were exchanged, compared to its average volume of 1,236,337. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The firm has a market cap of $170.97 billion, a price-to-earnings ratio of 62.54, a P/E/G ratio of 3.72 and a beta of 1.21. The firm’s 50-day moving average price is $644.88 and its two-hundred day moving average price is $598.39.

Intuit (NASDAQ:INTU) last issued its 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. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the previous year, the firm earned $1.05 EPS. The business’s revenue was up 11.3% on a year-over-year basis. On average, research analysts expect that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Tuesday, April 9th. Intuit’s payout ratio is currently 36.73%.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock valued at $3,117,156 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on INTU shares. Stifel Nicolaus increased their price objective on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. boosted their price objective on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. Wells Fargo & Company increased their price target on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. Oppenheimer boosted their price target on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Finally, KeyCorp lifted their target price on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $645.00.

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.