Segment Wealth Management LLC Purchases 161 Shares of Intuit Inc. (NASDAQ:INTU)

Segment Wealth Management LLC increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,944 shares of the software maker’s stock after purchasing an additional 161 shares during the period. Intuit comprises about 1.3% of Segment Wealth Management LLC’s investment portfolio, making the stock its 14th largest position. Segment Wealth Management LLC’s holdings in Intuit were worth $19,448,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of INTU. Brown Financial Advisors lifted its stake in Intuit by 0.9% during the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after purchasing an additional 15 shares during the period. Truvestments Capital LLC grew its position in Intuit by 1.5% during the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after acquiring an additional 16 shares during the last quarter. Aviso Wealth Management increased its stake in shares of Intuit by 4.9% in the second quarter. Aviso Wealth Management now owns 362 shares of the software maker’s stock valued at $238,000 after buying an additional 17 shares in the last quarter. CVA Family Office LLC increased its position in Intuit by 3.3% in the 3rd quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock valued at $330,000 after acquiring an additional 17 shares in the last quarter. Finally, Chris Bulman Inc raised its position in Intuit by 1.1% in the 3rd quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock worth $944,000 after purchasing an additional 17 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Down 0.5 %

NASDAQ:INTU opened at $604.13 on Tuesday. The stock has a 50-day simple moving average of $646.09 and a 200 day simple moving average of $636.77. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The company has a market cap of $169.11 billion, a PE ratio of 58.65, a PEG ratio of 2.98 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 (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business earned $1.14 EPS. On average, sell-side analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Analysts Set New Price Targets

Several research firms recently issued reports on INTU. JPMorgan Chase & Co. lifted their price objective on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Scotiabank initiated coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price for the company. Barclays dropped 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. Morgan Stanley raised their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Finally, Stifel Nicolaus lowered their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Insider Transactions at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott D. Cook sold 75,000 shares of the business’s 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 transaction, the insider now owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. 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. Insiders own 2.68% 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.