Dakota Wealth Management Increases Stock Position in Intuit Inc. (NASDAQ:INTU)

Dakota Wealth Management lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 5.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,113 shares of the software maker’s stock after purchasing an additional 210 shares during the quarter. Dakota Wealth Management’s holdings in Intuit were worth $2,571,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. NewSquare Capital LLC purchased a new position in shares of Intuit during the third quarter worth approximately $25,000. Cape Investment Advisory Inc. acquired a new stake in shares of Intuit during the third quarter worth $26,000. Steward Financial Group LLC lifted its holdings in shares of Intuit by 50.0% during the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after purchasing an additional 20 shares during the period. Webster Bank N. A. acquired a new stake in shares of Intuit during the fourth quarter worth $41,000. Finally, Aspire Private Capital LLC lifted its holdings in shares of Intuit by 144.4% during the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock worth $34,000 after purchasing an additional 39 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INTU has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Susquehanna lifted their price target on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Stifel Nicolaus lifted their price target on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Evercore ISI lifted their price target on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Finally, KeyCorp lifted their price target on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $645.00.

Intuit Stock Performance

Intuit stock opened at $611.49 on Wednesday. The stock’s 50 day moving average price is $645.48 and its 200 day moving average price is $598.28. The firm has a market capitalization of $171.22 billion, a PE ratio of 62.40, a price-to-earnings-growth ratio of 3.73 and a beta of 1.21. 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 Inc. has a one year low of $400.22 and a one year high of $671.01.

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

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Tuesday, April 9th. Intuit’s payout ratio is 36.73%.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at approximately $2,083,313.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,717 shares of company stock valued at $3,117,156 in the last three months. Corporate insiders own 2.90% of the company’s stock.

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.