Dakota Wealth Management Buys 210 Shares of Intuit Inc. (NASDAQ:INTU)

Dakota Wealth Management increased its stake in Intuit Inc. (NASDAQ:INTU) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,113 shares of the software maker’s stock after buying an additional 210 shares during the quarter. Dakota Wealth Management’s holdings in Intuit were worth $2,571,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in INTU. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in Intuit by 30.7% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 797 shares of the software maker’s stock valued at $498,000 after buying an additional 187 shares in the last quarter. Carnegie Capital Asset Management LLC lifted its holdings in Intuit by 12.4% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 689 shares of the software maker’s stock valued at $430,000 after buying an additional 76 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Intuit during the 4th quarter valued at about $24,439,000. MV Capital Management Inc. lifted its holdings in Intuit by 0.7% during the 4th quarter. MV Capital Management Inc. now owns 5,841 shares of the software maker’s stock valued at $3,651,000 after buying an additional 38 shares in the last quarter. Finally, Crestwood Advisors Group LLC increased its position in Intuit by 2.3% during the 4th quarter. Crestwood Advisors Group LLC now owns 1,901 shares of the software maker’s stock valued at $1,188,000 after purchasing an additional 43 shares during the period. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

INTU opened at $611.49 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a fifty day moving average price of $645.48 and a 200 day moving average price of $598.28. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The stock has a market cap of $171.22 billion, a P/E ratio of 62.40, a P/E/G ratio of 3.73 and a beta of 1.21.

Intuit (NASDAQ:INTU) last issued 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 company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 EPS. Equities research analysts anticipate that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.59%. The ex-dividend date is Tuesday, April 9th. Intuit’s payout ratio is presently 36.73%.

Insider Buying and Selling

In related news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were 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 Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now 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 is available through this link. 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 transaction of $178,186.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on INTU shares. Mizuho raised their target price on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Evercore ISI raised their target price on shares of Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Oppenheimer lifted their price objective on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Barclays lifted their price objective on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $645.00.

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.