RMR Wealth Builders Buys 177 Shares of Intuit Inc. (NASDAQ:INTU)

RMR Wealth Builders increased its stake in Intuit Inc. (NASDAQ:INTU) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,511 shares of the software maker’s stock after buying an additional 177 shares during the quarter. RMR Wealth Builders’ holdings in Intuit were worth $1,578,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in INTU. Brown Financial Advisors grew its position in shares of Intuit by 0.9% in the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after acquiring an additional 15 shares during the period. Truvestments Capital LLC lifted its stake in Intuit by 1.5% in the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after purchasing an additional 16 shares during the last quarter. Plancorp LLC grew its holdings in Intuit by 2.0% during the second quarter. Plancorp LLC now owns 881 shares of the software maker’s stock worth $579,000 after purchasing an additional 17 shares during the period. Aviso Wealth Management increased its position in Intuit by 4.9% during the second quarter. Aviso Wealth Management now owns 362 shares of the software maker’s stock worth $238,000 after buying an additional 17 shares during the last quarter. Finally, CVA Family Office LLC raised its stake in Intuit by 3.3% in the third 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. 83.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Sandeep Aujla sold 1,300 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $626.42, for a total value of $814,346.00. Following the sale, the chief financial officer now directly owns 644 shares in the company, valued at approximately $403,414.48. The trade was a 66.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 291,936 shares of company stock valued at $188,324,604 in the last three months. 2.68% of the stock is currently owned by insiders.

Intuit Trading Down 0.3 %

INTU traded down $1.58 during midday trading on Friday, hitting $623.43. 2,130,732 shares of the company were exchanged, compared to its average volume of 1,289,465. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average price is $649.55 and its 200-day moving average price is $638.16. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The firm has a market capitalization of $174.51 billion, a P/E ratio of 60.53, a P/E/G ratio of 3.24 and a beta of 1.25.

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, beating analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.14 EPS. As a group, equities analysts forecast that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be given a dividend of $1.04 per share. The ex-dividend date is Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. Intuit’s payout ratio is 40.39%.

Analyst Upgrades and Downgrades

INTU has been the subject of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Stifel Nicolaus reduced their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. JPMorgan Chase & Co. increased their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $765.00 target price on shares of Intuit in a report on Friday. Finally, Barclays decreased their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $737.44.

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.