Intuit Inc. (NASDAQ:INTU) Shares Purchased by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 62.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,409 shares of the software maker’s stock after acquiring an additional 2,858 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Intuit were worth $4,657,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Carnegie Investment Counsel grew its stake in shares of Intuit by 5.3% in the third quarter. Carnegie Investment Counsel now owns 591 shares of the software maker’s stock worth $367,000 after purchasing an additional 30 shares in the last quarter. CHICAGO TRUST Co NA lifted its holdings in Intuit by 4.0% in the third quarter. CHICAGO TRUST Co NA now owns 1,227 shares of the software maker’s stock worth $762,000 after purchasing an additional 47 shares during the period. Koshinski Asset Management Inc. grew its position in Intuit by 8.5% in the 3rd quarter. Koshinski Asset Management Inc. now owns 974 shares of the software maker’s stock valued at $605,000 after buying an additional 76 shares in the last quarter. CVA Family Office LLC increased its stake in Intuit by 3.3% during the 3rd quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock valued at $330,000 after buying an additional 17 shares during the period. Finally, Douglas Lane & Associates LLC raised its position in shares of Intuit by 622.2% during the 3rd quarter. Douglas Lane & Associates LLC now owns 11,750 shares of the software maker’s stock worth $7,297,000 after buying an additional 10,123 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Activity

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the sale, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Laura A. Fennell sold 7,700 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the transaction, the executive vice president now owns 33,916 shares in the company, valued at approximately $22,304,518.24. This trade represents a 18.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock worth $188,992,187 in the last three months. 2.68% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on INTU shares. Jefferies Financial Group increased their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Barclays cut their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Oppenheimer lifted their target price on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, Morgan Stanley upped their price target on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Price Performance

NASDAQ INTU opened at $586.84 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $164.27 billion, a price-to-earnings ratio of 56.97, a price-to-earnings-growth ratio of 2.91 and a beta of 1.24. The company has a 50 day simple moving average of $626.20 and a 200-day simple moving average of $631.66. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. Equities research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

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.