Austin Private Wealth LLC Purchases 489 Shares of Intuit Inc. (NASDAQ:INTU)

Austin Private Wealth LLC lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 115.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 913 shares of the software maker’s stock after acquiring an additional 489 shares during the quarter. Austin Private Wealth LLC’s holdings in Intuit were worth $571,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Ritholtz Wealth Management raised its holdings in Intuit by 4.9% during the 4th quarter. Ritholtz Wealth Management now owns 3,252 shares of the software maker’s stock worth $2,033,000 after purchasing an additional 153 shares during the last quarter. Trueblood Wealth Management LLC bought a new stake in shares of Intuit during the fourth quarter worth approximately $1,086,000. Successful Portfolios LLC acquired a new position in Intuit in the fourth quarter valued at approximately $224,000. MJP Associates Inc. ADV grew its holdings in Intuit by 4.8% during the 4th quarter. MJP Associates Inc. ADV now owns 1,143 shares of the software maker’s stock worth $715,000 after acquiring an additional 52 shares during the period. Finally, Elk River Wealth Management LLC lifted its stake in shares of Intuit by 0.3% in the 4th quarter. Elk River Wealth Management LLC now owns 15,309 shares of the software maker’s stock valued at $9,569,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity at Intuit

In other Intuit news, EVP Laura A. Fennell sold 14,771 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $589.60, for a total transaction of $8,708,981.60. Following the transaction, the executive vice president now owns 50,030 shares of the company’s stock, valued at $29,497,688. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Laura A. Fennell sold 14,771 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $589.60, for a total transaction of $8,708,981.60. Following the transaction, the executive vice president now directly owns 50,030 shares of the company’s stock, valued at approximately $29,497,688. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 14,772 shares of the firm’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $598.52, for a total value of $8,841,337.44. Following the sale, the executive vice president now directly owns 50,030 shares of the company’s stock, valued at approximately $29,943,955.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,260 shares of company stock worth $20,667,475. Insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays lifted their price objective on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. KeyCorp increased their price target on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research report on Wednesday. Wells Fargo & Company boosted their price objective on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. increased their target price on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Finally, Oppenheimer boosted their price target on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $645.00.

Intuit Trading Up 0.2 %

Intuit stock opened at $650.00 on Friday. The company has a market cap of $182 billion, a price-to-earnings ratio of 66.33, a P/E/G ratio of 3.95 and a beta of 1.22. The firm has a 50-day moving average of $646.73 and a 200-day moving average of $587.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. Intuit Inc. has a one year low of $400.22 and a one year high of $671.01.

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

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.55%. The ex-dividend date is Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is currently 36.73%.

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.