Wealthspire Advisors LLC Boosts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Wealthspire Advisors LLC raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 3.3% in the 4th quarter, Holdings Channel reports. The firm owned 2,476 shares of the software maker’s stock after acquiring an additional 79 shares during the period. Wealthspire Advisors LLC’s holdings in Intuit were worth $1,548,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewSquare Capital LLC purchased a new stake in Intuit during the third quarter valued at $25,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Intuit in the 4th quarter valued at about $25,000. Cape Investment Advisory Inc. purchased a new position in Intuit in the third quarter worth about $26,000. MCF Advisors LLC raised its position in Intuit by 119.0% during the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after purchasing an additional 25 shares during the period. Finally, Aspire Private Capital LLC lifted its stake in shares of Intuit by 144.4% in the 3rd quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock valued at $34,000 after purchasing an additional 39 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Stock Down 0.9 %

NASDAQ INTU traded down $5.57 during midday trading on Thursday, hitting $626.86. 1,292,678 shares of the company traded hands, compared to its average volume of 1,228,763. The company has a market cap of $175.52 billion, a PE ratio of 63.97, a price-to-earnings-growth ratio of 3.83 and a beta of 1.22. 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 52 week low of $400.22 and a 52 week high of $671.01. The company’s 50-day simple moving average is $635.87 and its 200-day simple moving average is $608.61.

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

Intuit Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Stifel Nicolaus raised their price target on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Mizuho lifted their price target on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Evercore ISI increased their price objective on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. boosted their target price on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Finally, KeyCorp increased their price target on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $650.23.

Insider Activity

In other news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Alex G. Balazs sold 280 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock worth $3,117,156 in the last ninety days. Company insiders own 2.90% of the company’s stock.

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.