Kingswood Wealth Advisors LLC grew its holdings in shares of Intuit Inc. (NASDAQ:INTU – Free Report) by 9.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 701 shares of the software maker’s stock after buying an additional 62 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Intuit were worth $430,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. NewSquare Capital LLC increased its position in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after buying an additional 18 shares during the period. Ethos Financial Group LLC increased its holdings in shares of Intuit by 3.7% during the fourth quarter. Ethos Financial Group LLC now owns 508 shares of the software maker’s stock valued at $319,000 after purchasing an additional 18 shares during the period. Legacy Investment Solutions LLC increased its holdings in shares of Intuit by 18.0% during the fourth quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker’s stock valued at $68,000 after purchasing an additional 18 shares during the period. Financial Management Professionals Inc. increased its holdings in shares of Intuit by 18.4% during the first quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker’s stock valued at $71,000 after purchasing an additional 18 shares during the period. Finally, Chris Bulman Inc increased its holdings in shares of Intuit by 1.2% during the first quarter. Chris Bulman Inc now owns 1,523 shares of the software maker’s stock valued at $935,000 after purchasing an additional 18 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.
Intuit Stock Performance
NASDAQ INTU opened at $761.14 on Friday. The firm has a market cap of $212.32 billion, a price-to-earnings ratio of 61.78, a PEG ratio of 3.39 and a beta of 1.28. The company has a 50 day moving average of $682.89 and a 200-day moving average of $634.43. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $773.45.
Intuit Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.55%. Intuit’s dividend payout ratio (DPR) is currently 33.77%.
Wall Street Analyst Weigh In
INTU has been the topic of a number of research reports. Jefferies Financial Group set a $850.00 target price on shares of Intuit and gave the stock a “buy” rating in a report on Friday, May 23rd. Susquehanna reiterated a “positive” rating on shares of Intuit in a report on Friday, May 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $850.00 target price (up from $760.00) on shares of Intuit in a report on Friday, May 23rd. Scotiabank upgraded shares of Intuit from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. Finally, Bank of America boosted their target price on shares of Intuit from $730.00 to $875.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $787.95.
Read Our Latest Stock Analysis on INTU
Insider Activity
In other Intuit news, insider Scott D. Cook sold 72,442 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the transaction, the insider now directly owns 6,063,495 shares of the company’s stock, valued at approximately $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the transaction, the executive vice president now directly owns 21,882 shares in the company, valued at approximately $13,401,849.72. The trade was a 27.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 279,321 shares of company stock valued at $207,988,705 over the last three months. 2.68% of the stock is owned by insiders.
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.
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