Naviter Wealth LLC Acquires 422 Shares of Intuit Inc. (NASDAQ:INTU)

Naviter Wealth LLC raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 25.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,087 shares of the software maker’s stock after purchasing an additional 422 shares during the period. Naviter Wealth LLC’s holdings in Intuit were worth $1,304,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of INTU. Brookstone Capital Management increased its holdings in Intuit by 14.3% during the third quarter. Brookstone Capital Management now owns 2,273 shares of the software maker’s stock worth $1,185,000 after buying an additional 285 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Intuit by 28.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 58,605 shares of the software maker’s stock worth $29,944,000 after purchasing an additional 13,013 shares during the last quarter. RMR Wealth Builders raised its holdings in shares of Intuit by 62.3% in the 3rd quarter. RMR Wealth Builders now owns 1,828 shares of the software maker’s stock worth $934,000 after purchasing an additional 702 shares during the period. Suncoast Equity Management raised its stake in shares of Intuit by 1.8% in the third quarter. Suncoast Equity Management now owns 73,179 shares of the software maker’s stock valued at $37,390,000 after buying an additional 1,286 shares during the period. Finally, Accurate Wealth Management LLC lifted its position in shares of Intuit by 67.2% during the 3rd quarter. Accurate Wealth Management LLC now owns 903 shares of the software maker’s stock valued at $487,000 after buying an additional 363 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Price Performance

INTU stock opened at $635.76 on Tuesday. The firm has a market cap of $178.01 billion, a P/E ratio of 65.14, a P/E/G ratio of 3.88 and a beta of 1.21. The firm’s fifty day moving average is $639.91 and its 200 day moving average is $604.28. Intuit Inc. has a 52 week low of $400.22 and a 52 week high of $671.01. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period last year, the firm earned $1.05 earnings per share. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. Research analysts predict 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 issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio is 36.73%.

Insider Activity at Intuit

In related news, CAO Lauren D. Hotz sold 745 shares of the firm’s 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 sale, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction on 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 owns 3,180 shares in the company, valued at $2,083,313.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was 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 directly owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock worth $3,117,156 in the last three months. 2.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on INTU. Wells Fargo & Company lifted their price objective on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. increased their price objective on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Barclays upped their price target on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Stifel Nicolaus raised their price objective on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, Susquehanna upped their target price on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.