SeaCrest Wealth Management LLC Purchases 64 Shares of Intuit Inc. (NASDAQ:INTU)

SeaCrest Wealth Management LLC increased its position in Intuit Inc. (NASDAQ:INTU) by 9.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 751 shares of the software maker’s stock after buying an additional 64 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Intuit were worth $472,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new position in shares of Intuit in the third quarter valued at about $27,000. Denver PWM LLC bought a new stake in shares of Intuit in the third quarter worth about $32,000. Dunhill Financial LLC increased its holdings in Intuit by 110.3% during the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after purchasing an additional 32 shares during the period. Kimelman & Baird LLC bought a new position in Intuit during the 2nd quarter valued at approximately $49,000. Finally, Pacifica Partners Inc. lifted its holdings in Intuit by 27.7% in the 4th quarter. Pacifica Partners Inc. now owns 83 shares of the software maker’s stock worth $52,000 after buying an additional 18 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Performance

Shares of INTU stock opened at $607.29 on Friday. The company has a market capitalization of $169.99 billion, a price-to-earnings ratio of 58.96, a price-to-earnings-growth ratio of 3.07 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company’s 50-day moving average is $649.03 and its 200 day moving average is $637.60.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating 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 firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, January 10th. Intuit’s payout ratio is currently 40.39%.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark P. Notarainni sold 3,649 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the transaction, the executive vice president now directly owns 19 shares of the company’s stock, valued at $12,286.92. The trade was a 99.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock valued at $188,992,187 over the last ninety days. Insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on INTU shares. Scotiabank began coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Stifel Nicolaus decreased their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Oppenheimer raised their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and set a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $726.53.

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.