Intuit Inc. (NASDAQ:INTU) Shares Bought by Drive Wealth Management LLC

Drive Wealth Management LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 725 shares of the software maker’s stock after purchasing an additional 30 shares during the quarter. Drive Wealth Management LLC’s holdings in Intuit were worth $471,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Desjardins Global Asset Management Inc. grew its holdings in shares of Intuit by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after buying an additional 16 shares during the last quarter. JFS Wealth Advisors LLC grew its holdings in shares of Intuit by 1.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock worth $978,000 after buying an additional 16 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Intuit by 3.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock worth $281,000 after buying an additional 16 shares during the last quarter. GAM Holding AG grew its holdings in shares of Intuit by 0.3% during the fourth quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock worth $3,671,000 after buying an additional 17 shares during the last quarter. Finally, Janiczek Wealth Management LLC grew its holdings in shares of Intuit by 2.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after buying an additional 17 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity

In other news, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the sale, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is currently owned by corporate insiders.

Intuit Stock Up 1.6 %

Shares of NASDAQ:INTU traded up $10.16 during midday trading on Friday, hitting $636.55. 1,192,496 shares of the company’s stock traded hands, compared to its average volume of 1,208,945. 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 cap of $178.23 billion, a PE ratio of 64.95, a P/E/G ratio of 3.81 and a beta of 1.21. The firm’s fifty day moving average price is $640.26 and its two-hundred day moving average price is $602.74. Intuit Inc. has a twelve month low of $400.22 and a twelve month high of $671.01.

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

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were paid a $0.90 dividend. The ex-dividend date 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 (DPR) is presently 36.73%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on INTU. Barclays raised their price objective 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. Susquehanna raised their price objective on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. Mizuho raised their price objective on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Wells Fargo & Company raised their price objective on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. Finally, StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $650.23.

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.