3,088 Shares in Intuit Inc. (NASDAQ:INTU) Acquired by RWA Wealth Partners LLC

RWA Wealth Partners LLC bought a new position in shares of Intuit Inc. (NASDAQ:INTU) in the fourth quarter, HoldingsChannel reports. The firm bought 3,088 shares of the software maker’s stock, valued at approximately $1,930,000.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Intuit by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock worth $12,942,784,000 after purchasing an additional 117,478 shares in the last quarter. FMR LLC increased its stake in Intuit by 5.0% during the 3rd quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock worth $2,879,982,000 after purchasing an additional 266,803 shares in the last quarter. Morgan Stanley grew its stake in shares of Intuit by 3.7% during the 3rd quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock worth $1,966,304,000 after acquiring an additional 137,198 shares in the last quarter. Northern Trust Corp grew its stake in shares of Intuit by 5.2% during the 3rd quarter. Northern Trust Corp now owns 3,212,771 shares of the software maker’s stock worth $1,641,533,000 after acquiring an additional 160,229 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Intuit by 6.6% during the 3rd quarter. Invesco Ltd. now owns 3,091,645 shares of the software maker’s stock worth $1,579,645,000 after acquiring an additional 190,582 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Transactions at Intuit

In related 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 value of $178,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is currently owned by corporate insiders.

Intuit Stock Up 3.5 %

INTU opened at $630.88 on Wednesday. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market capitalization of $176.65 billion, a P/E ratio of 64.38, a P/E/G ratio of 3.71 and a beta of 1.21. The stock has a fifty day moving average of $641.83 and a 200-day moving average of $601.63.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter last year, the firm earned $1.05 earnings per share. The company’s revenue was up 11.3% on a year-over-year basis. On average, equities analysts expect that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio is currently 36.73%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on INTU. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research note on Monday. Evercore ISI raised their target price on shares of Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. raised their target price on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Wells Fargo & Company raised their target price on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 21st. Finally, KeyCorp raised their target price on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.