B. Riley Wealth Advisors Inc. Sells 1,755 Shares of Intuit Inc. (NASDAQ:INTU)

B. Riley Wealth Advisors Inc. lessened its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 69.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 777 shares of the software maker's stock after selling 1,755 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Intuit were worth $488,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of INTU. Brighton Jones LLC grew its stake in Intuit by 61.3% in the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock worth $2,233,000 after buying an additional 1,350 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in Intuit in the 4th quarter worth approximately $104,278,000. Foundations Investment Advisors LLC grew its stake in Intuit by 65.7% in the 4th quarter. Foundations Investment Advisors LLC now owns 666 shares of the software maker's stock worth $419,000 after buying an additional 264 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Intuit by 145.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock valued at $511,000 after purchasing an additional 482 shares in the last quarter. Finally, Perigon Wealth Management LLC boosted its stake in shares of Intuit by 3.5% in the 4th quarter. Perigon Wealth Management LLC now owns 4,793 shares of the software maker's stock valued at $2,911,000 after purchasing an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 72,442 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the sale, the insider now directly owns 6,063,495 shares of the company's stock, valued at approximately $4,494,808,208.55. This represents a 1.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 25,648 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the sale, the executive vice president now directly owns 22,796 shares in the company, valued at $17,148,291. This trade represents a 52.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 189,804 shares of company stock valued at $138,081,963 in the last three months. 2.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. HSBC raised shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective for the company in a research note on Wednesday, April 23rd. Stifel Nicolaus boosted their target price on Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Susquehanna restated a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. Royal Bank of Canada reiterated an "outperform" rating and issued a $850.00 price objective (up previously from $760.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, KeyCorp reissued an "overweight" rating and set a $850.00 price objective (up previously from $770.00) on shares of Intuit in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Intuit currently has an average rating of "Moderate Buy" and an average price target of $785.33.

Intuit Trading Down 0.7%

NASDAQ INTU traded down $5.18 during trading on Friday, hitting $752.04. The company had a trading volume of 2,887,091 shares, compared to its average volume of 1,619,387. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a one year low of $532.65 and a one year high of $761.02. The company has a market cap of $210.24 billion, a price-to-earnings ratio of 73.01, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company's fifty day moving average is $630.69 and its 200-day moving average is $623.50.

Intuit (NASDAQ:INTU - Get Free Report) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company's revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.88 EPS. On average, sell-side analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio is presently 33.77%.

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.