Intuit Inc. (NASDAQ:INTU) Shares Purchased by Rockline Wealth Management LLC

Rockline Wealth Management LLC raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 5.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 982 shares of the software maker’s stock after purchasing an additional 53 shares during the period. Rockline Wealth Management LLC’s holdings in Intuit were worth $617,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of Intuit during the 4th quarter worth approximately $25,000. Northwest Investment Counselors LLC purchased a new position in Intuit during the third quarter worth $27,000. Heck Capital Advisors LLC acquired a new position in shares of Intuit in the fourth quarter worth $28,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Intuit in the fourth quarter valued at $29,000. Finally, Denver PWM LLC acquired a new stake in shares of Intuit during the third quarter valued at $32,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

INTU stock opened at $600.76 on Tuesday. The stock has a 50-day simple moving average of $630.95 and a 200-day simple moving average of $633.26. The firm has a market cap of $168.16 billion, a P/E ratio of 58.33, a price-to-earnings-growth ratio of 2.96 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion for 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 business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 earnings per share. On average, equities analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

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

Insider Buying and Selling

In other news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on INTU shares. Barclays cut their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. JPMorgan Chase & Co. lifted their target price 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. Morgan Stanley increased their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Jefferies Financial Group lifted their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Oppenheimer increased their target price on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

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.