Alpine Bank Wealth Management Buys Shares of 161 Intuit Inc. (NASDAQ:INTU)

Alpine Bank Wealth Management purchased a new position in Intuit Inc. (NASDAQ:INTU) in the first quarter, HoldingsChannel.com reports. The fund purchased 161 shares of the software maker’s stock, valued at approximately $99,000.

Several other institutional investors and hedge funds have also made changes to their positions in INTU. Brighton Jones LLC boosted its stake in shares of Intuit by 61.3% during the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker’s stock worth $2,233,000 after purchasing an additional 1,350 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Intuit by 145.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker’s stock valued at $511,000 after buying an additional 482 shares during the period. Bank Pictet & Cie Europe AG boosted its position in Intuit by 14.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker’s stock worth $1,252,000 after acquiring an additional 248 shares during the last quarter. IFP Advisors Inc grew its stake in Intuit by 0.9% in the 4th quarter. IFP Advisors Inc now owns 3,961 shares of the software maker’s stock worth $2,490,000 after acquiring an additional 35 shares during the period. Finally, BankPlus Trust Department acquired a new position in Intuit in the 4th quarter valued at $61,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Scott D. Cook sold 62,816 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $765.99, for a total transaction of $48,116,427.84. Following the completion of the transaction, the insider now owns 6,000,679 shares in the company, valued at $4,596,460,107.21. The trade was a 1.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark P. Notarainni sold 469 shares of the company’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $725.00, for a total value of $340,025.00. Following the transaction, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $13,775. The trade was a 96.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 271,158 shares of company stock valued at $202,989,194 over the last quarter. Insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Hsbc Global Res upgraded Intuit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. Piper Sandler reiterated an “overweight” rating and set a $825.00 target price (up from $785.00) on shares of Intuit in a research report on Friday, May 23rd. KeyCorp restated an “overweight” rating and issued a $850.00 price target (up previously from $770.00) on shares of Intuit in a report on Friday, May 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $742.00 price objective (up previously from $642.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Intuit from $660.00 to $770.00 and gave the stock an “overweight” rating in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average price target of $787.95.

Intuit Price Performance

INTU stock opened at $757.86 on Thursday. The stock has a 50-day simple moving average of $692.96 and a 200-day simple moving average of $636.84. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market cap of $211.41 billion, a P/E ratio of 61.51, a price-to-earnings-growth ratio of 3.38 and a beta of 1.28. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $773.45.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the previous year, the firm earned $9.88 earnings per share. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, equities analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.55%. Intuit’s dividend payout ratio (DPR) is 33.77%.

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.