Wealthcare Advisory Partners LLC Raises Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Wealthcare Advisory Partners LLC boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 15.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 641 shares of the software maker’s stock after buying an additional 84 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Intuit were worth $401,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in INTU. Simmons Bank lifted its stake in Intuit by 36.9% during the third quarter. Simmons Bank now owns 761 shares of the software maker’s stock worth $389,000 after purchasing an additional 205 shares in the last quarter. Portside Wealth Group LLC grew its position in Intuit by 8.3% in the 3rd quarter. Portside Wealth Group LLC now owns 494 shares of the software maker’s stock valued at $255,000 after acquiring an additional 38 shares in the last quarter. Financial Advocates Investment Management increased its stake in Intuit by 46.1% during the third quarter. Financial Advocates Investment Management now owns 926 shares of the software maker’s stock worth $473,000 after purchasing an additional 292 shares during the period. Carmel Capital Partners LLC acquired a new stake in shares of Intuit during the third quarter worth about $80,000. Finally, Assetmark Inc. boosted its stake in shares of Intuit by 16.4% in the third quarter. Assetmark Inc. now owns 39,033 shares of the software maker’s stock valued at $19,944,000 after purchasing an additional 5,488 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Intuit news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction on 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 SEC, which can be accessed through this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the transaction, the executive vice president now 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 sold 4,717 shares of company stock worth $3,117,156 over the last 90 days. Company insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

INTU has been the subject of several recent research reports. Barclays raised their price target on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. boosted their price target on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Stifel Nicolaus raised their price objective on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Piper Sandler upped their target price on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Finally, Wells Fargo & Company lifted their price target on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 21st. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $650.23.

Intuit Trading Down 0.9 %

NASDAQ INTU opened at $626.86 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $175.52 billion, a P/E ratio of 63.97, a P/E/G ratio of 3.83 and a beta of 1.22. Intuit Inc. has a 52-week low of $400.22 and a 52-week high of $671.01. The firm has a 50-day moving average price of $635.87 and a 200 day moving average price of $608.61.

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

Intuit Dividend Announcement

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

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.