RMR Wealth Builders Has $1.81 Million Holdings in Intuit Inc. (NASDAQ:INTU)

RMR Wealth Builders lifted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 17.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,941 shares of the software maker's stock after buying an additional 430 shares during the period. RMR Wealth Builders' holdings in Intuit were worth $1,806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of INTU. Copia Wealth Management acquired a new stake in shares of Intuit in the fourth quarter worth $25,000. NewSquare Capital LLC raised its holdings in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after acquiring an additional 18 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Intuit during the fourth quarter worth $28,000. Heck Capital Advisors LLC purchased a new stake in shares of Intuit during the fourth quarter worth $28,000. Finally, VSM Wealth Advisory LLC purchased a new stake in shares of Intuit during the fourth quarter worth $35,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Buying and Selling

In other news, insider Scott D. Cook sold 62,816 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $765.99, for a total value of $48,116,427.84. Following the sale, the insider now directly owns 6,000,679 shares in the company, valued at approximately $4,596,460,107.21. This represents a 1.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Marianna Tessel sold 7,385 shares of the company's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05. Following the completion of the sale, the executive vice president now owns 40,190 shares in the company, valued at approximately $24,119,224.70. This represents a 15.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 288,408 shares of company stock valued at $213,441,865 over the last three months. 2.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on INTU. Redburn Atlantic began coverage on Intuit in a report on Wednesday, February 19th. They set a "neutral" rating for the company. KeyCorp reiterated an "overweight" rating and set a $850.00 price objective (up from $770.00) on shares of Intuit in a report on Friday, May 23rd. Royal Bank of Canada reiterated an "outperform" rating and set a $850.00 price objective (up from $760.00) on shares of Intuit in a report on Friday, May 23rd. JPMorgan Chase & Co. raised their target price on Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Finally, Oppenheimer restated an "outperform" rating and set a $742.00 target price (up from $642.00) on shares of Intuit in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $787.95.

Intuit Stock Performance

INTU stock traded down $12.23 during trading on Friday, reaching $753.98. 1,148,047 shares of the stock were exchanged, compared to its average volume of 1,611,840. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $773.45. The company has a market capitalization of $210.32 billion, a P/E ratio of 73.20, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. The stock has a 50 day simple moving average of $664.85 and a 200-day simple moving average of $630.25. 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 (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. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the business earned $9.88 earnings per share. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

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

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.