Howe & Rusling Inc. Increases Stake in Intuit Inc. (NASDAQ:INTU)

Howe & Rusling Inc. increased its stake in Intuit Inc. (NASDAQ:INTU) by 3.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,079 shares of the software maker’s stock after purchasing an additional 293 shares during the quarter. Howe & Rusling Inc.’s holdings in Intuit were worth $5,050,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in INTU. Parnassus Investments LLC increased its holdings in shares of Intuit by 42,268.5% in the 3rd quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock valued at $312,161,000 after purchasing an additional 609,512 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Intuit by 61.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock valued at $690,244,000 after purchasing an additional 514,259 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Intuit by 60,534.9% in the 4th quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after purchasing an additional 472,172 shares in the last quarter. FMR LLC increased its holdings in Intuit by 5.0% during the 3rd quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after acquiring an additional 266,803 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its holdings in Intuit by 56.2% during the 3rd quarter. AustralianSuper Pty Ltd now owns 617,821 shares of the software maker’s stock valued at $315,669,000 after acquiring an additional 222,317 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 0.6 %

Shares of INTU traded down $3.63 during mid-day trading on Wednesday, reaching $621.99. 837,791 shares of the stock traded hands, compared to its average volume of 1,240,949. The firm has a market cap of $174.16 billion, a price-to-earnings ratio of 62.83, a P/E/G ratio of 3.89 and a beta of 1.21. The stock has a fifty day simple moving average of $639.51 and a 200 day simple moving average of $604.93. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35.

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

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is 36.73%.

Insider Activity

In related news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were 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 of the company’s stock, valued at $2,083,313.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intuit news, 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 value of $488,071.85. Following the sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on INTU. Evercore ISI raised their target price on shares of Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Piper Sandler raised their price target on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Susquehanna raised their price target on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Stifel Nicolaus raised their price target on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus 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.