B. Riley Wealth Advisors Inc. Raises Stock Holdings in Intuit Inc. (NASDAQ:INTU)

B. Riley Wealth Advisors Inc. lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,759 shares of the software maker’s stock after acquiring an additional 127 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Intuit were worth $1,725,000 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 the stock. Ables Iannone Moore & Associates Inc. purchased a new position in Intuit during the fourth quarter worth about $81,000. Leo Wealth LLC acquired a new position in shares of Intuit during the 4th quarter valued at about $201,000. Sivia Capital Partners LLC purchased a new position in shares of Intuit during the 4th quarter worth about $333,000. Cove Private Wealth LLC acquired a new stake in shares of Intuit in the fourth quarter worth approximately $1,291,000. Finally, Trust Co. of Vermont grew its holdings in Intuit by 1.5% in the fourth quarter. Trust Co. of Vermont now owns 23,073 shares of the software maker’s stock valued at $14,421,000 after purchasing an additional 350 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 1.2 %

NASDAQ:INTU opened at $609.68 on Wednesday. Intuit Inc. has a one year low of $442.74 and a one year high of $676.62. The business’s 50-day simple moving average is $616.00 and its 200 day simple moving average is $625.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market cap of $170.44 billion, a price-to-earnings ratio of 56.24, a price-to-earnings-growth ratio of 3.41 and a beta of 1.21.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same period in the prior year, the company posted $7.80 EPS. Intuit’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts predict that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s dividend payout ratio is currently 33.21%.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 27,309 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total transaction of $16,198,606.44. Following the transaction, the insider now owns 6,524,412 shares of the company’s stock, valued at $3,870,020,221.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Scott D. Cook sold 27,309 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $593.16, for a total value of $16,198,606.44. Following the completion of the sale, the insider now directly owns 6,524,412 shares in the company, valued at approximately $3,870,020,221.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $281,129.70. Following the transaction, the executive vice president now owns 869 shares in the company, valued at $525,380.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 193,937 shares of company stock valued at $113,123,232. Insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on INTU shares. KeyCorp increased their price target on shares of Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Morgan Stanley lifted their target price on Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Oppenheimer upped their price target on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Erste Group Bank reaffirmed a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Finally, Piper Sandler increased their target price on shares of Intuit from $750.00 to $760.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus price target of $679.41.

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.