Concentrum Wealth Management Sells 42 Shares of Intuit Inc. (NASDAQ:INTU)

Concentrum Wealth Management reduced its stake in Intuit Inc. (NASDAQ:INTU) by 9.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 413 shares of the software maker’s stock after selling 42 shares during the quarter. Concentrum Wealth Management’s holdings in Intuit were worth $258,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in shares of Intuit in the 3rd quarter worth approximately $51,000. V Square Quantitative Management LLC lifted its position in Intuit by 18.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock valued at $1,558,000 after acquiring an additional 482 shares in the last quarter. Glenmede Trust Co. NA lifted its position in Intuit by 12.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after acquiring an additional 2,074 shares in the last quarter. Hixon Zuercher LLC bought a new position in Intuit in the 4th quarter valued at approximately $1,292,000. Finally, Signature Wealth Management Group bought a new position in Intuit in the 4th quarter valued at approximately $1,747,000. 83.66% of the stock is owned by institutional investors.

Intuit Stock Performance

Shares of NASDAQ:INTU traded up $0.46 during midday trading on Thursday, hitting $615.66. The company had a trading volume of 507,131 shares, compared to its average volume of 1,236,663. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market cap of $172.38 billion, a price-to-earnings ratio of 62.86, a PEG ratio of 3.81 and a beta of 1.22. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01. The company has a fifty day moving average of $639.05 and a two-hundred day moving average of $605.00.

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

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were paid a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.58%. Intuit’s payout ratio is presently 36.73%.

Analyst Ratings Changes

INTU has been the topic of several analyst reports. Barclays upped their price objective on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. JPMorgan Chase & Co. upped their price objective on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Mizuho upped their price objective on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, Evercore ISI boosted their target price on shares of Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Four 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $650.23.

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, 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 value of $178,186.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,717 shares of company stock worth $3,117,156. Corporate insiders own 2.90% of the company’s stock.

Intuit Company 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.