Ritholtz Wealth Management Acquires 153 Shares of Intuit Inc. (NASDAQ:INTU)

Ritholtz Wealth Management boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,252 shares of the software maker’s stock after buying an additional 153 shares during the period. Ritholtz Wealth Management’s holdings in Intuit were worth $2,033,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in shares of Intuit in the third quarter valued at approximately $51,000. V Square Quantitative Management LLC raised its holdings in shares of Intuit by 18.8% in the third quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock valued at $1,558,000 after purchasing an additional 482 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of Intuit by 2,017.2% in the second quarter. Orion Portfolio Solutions LLC now owns 46,007 shares of the software maker’s stock valued at $22,282,000 after purchasing an additional 43,834 shares during the last quarter. Rehmann Capital Advisory Group acquired a new stake in shares of Intuit in the second quarter valued at approximately $285,000. Finally, Thematics Asset Management raised its holdings in shares of Intuit by 8.4% in the second quarter. Thematics Asset Management now owns 21,897 shares of the software maker’s stock valued at $10,033,000 after purchasing an additional 1,704 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Price Performance

NASDAQ INTU traded up $1.26 during trading on Thursday, hitting $650.00. 1,163,209 shares of the company’s stock were exchanged, compared to its average volume of 1,243,718. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The company has a market cap of $182 billion, a PE ratio of 66.33, a P/E/G ratio of 3.90 and a beta of 1.22. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The stock’s 50 day moving average price is $646.73 and its two-hundred day moving average price is $587.31.

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, topping the consensus estimate of $2.30 by $0.33. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.05 earnings per share. Research analysts expect that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s payout ratio is 36.73%.

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $178,186.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,260 shares of company stock worth $20,667,475. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Stifel Nicolaus lifted their price objective on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Citigroup lifted their price objective on shares of Intuit from $565.00 to $651.00 and gave the stock a “buy” rating in a research report on Wednesday, November 29th. KeyCorp lifted their price objective on shares of Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Barclays lifted their price objective on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus price target of $645.00.

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.