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

WT Wealth Management increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 8.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,533 shares of the software maker’s stock after acquiring an additional 281 shares during the quarter. WT Wealth Management’s holdings in Intuit were worth $2,167,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTU. LGT Financial Advisors LLC purchased a new stake in Intuit during the 2nd quarter worth about $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit in the second quarter valued at approximately $26,000. Fairway Wealth LLC purchased a new position in Intuit during the second quarter valued at approximately $26,000. Northwest Investment Counselors LLC purchased a new position in Intuit during the third quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Intuit in the 2nd quarter worth approximately $35,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Susquehanna reiterated a “positive” rating and set a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Royal Bank of Canada started coverage on Intuit in a research report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 target price for the company. Finally, BMO Capital Markets lifted their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Stock Performance

INTU traded down $3.23 during trading on Tuesday, hitting $610.70. The company’s stock had a trading volume of 454,321 shares, compared to its average volume of 1,319,566. The business’s 50 day simple moving average is $630.13 and its 200-day simple moving average is $627.52. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a market cap of $170.72 billion, a PE ratio of 55.94, a P/E/G ratio of 3.04 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the business earned $0.40 earnings per share. The business’s revenue was up 17.4% on a year-over-year basis. As a group, sell-side analysts predict that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. Intuit’s payout ratio is 38.38%.

Insider Buying and Selling

In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the completion of the transaction, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the completion of the transaction, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the sale, the executive vice president now owns 52,038 shares in the company, valued at approximately $33,427,129.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,297 shares of company stock worth $35,220,046. Corporate insiders own 2.90% of the company’s stock.

Intuit Company 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.