Kingsview Wealth Management LLC Acquires 353 Shares of Intuit Inc. (NASDAQ:INTU)

Kingsview Wealth Management LLC raised its holdings in Intuit Inc. (NASDAQ:INTU) by 28.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,576 shares of the software maker’s stock after purchasing an additional 353 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Intuit were worth $978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in INTU. Fortitude Family Office LLC raised its stake in shares of Intuit by 2.8% in the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after buying an additional 16 shares during the period. WASHINGTON TRUST Co raised its stake in Intuit by 10.5% during the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after acquiring an additional 16 shares during the period. Gemmer Asset Management LLC lifted its holdings in Intuit by 3.7% during the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after purchasing an additional 16 shares in the last quarter. PFG Investments LLC boosted its position in shares of Intuit by 1.1% in the second quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock worth $1,024,000 after purchasing an additional 17 shares during the period. Finally, Plancorp LLC increased its stake in shares of Intuit by 2.0% in the second quarter. Plancorp LLC now owns 881 shares of the software maker’s stock worth $579,000 after purchasing an additional 17 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Eve B. Burton sold 2,988 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the sale, the chief financial officer now owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This trade represents a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,265 shares of company stock worth $35,200,125. 2.90% of the stock is owned by corporate insiders.

Intuit Stock Up 0.7 %

Shares of NASDAQ:INTU opened at $638.83 on Wednesday. The firm has a market capitalization of $178.95 billion, a PE ratio of 62.02, a price-to-earnings-growth ratio of 3.13 and a beta of 1.25. The business has a 50 day simple moving average of $634.46 and a two-hundred day simple moving average of $631.29. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates 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 business posted $1.14 EPS. On average, equities analysts predict that Intuit Inc. will post 14.05 EPS for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be paid a $1.04 dividend. The ex-dividend date is Thursday, January 9th. This represents a $4.16 annualized dividend and a yield of 0.65%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Bank of America lifted their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley upped their target price on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Barclays reduced their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, BMO Capital Markets raised their price objective on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $737.44.

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.