Wealth Enhancement Advisory Services LLC Raises Stock Position in Intuit Inc. (NASDAQ:INTU)

Wealth Enhancement Advisory Services LLC boosted its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 4.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,676 shares of the software maker's stock after purchasing an additional 1,369 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Intuit were worth $19,280,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in Intuit in the 4th quarter worth approximately $25,000. Copia Wealth Management bought a new position in shares of Intuit during the fourth quarter valued at approximately $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 valued at $27,000 after acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in Intuit in the fourth quarter worth $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit in the fourth quarter valued at $28,000. 83.66% of the stock is currently owned by institutional investors.

Insider Transactions at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 469 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $725.00, for a total transaction of $340,025.00. Following the completion of the sale, the executive vice president now owns 19 shares in the company, valued at $13,775. This represents a 96.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Laura A. Fennell sold 25,648 shares of Intuit stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $752.25, for a total value of $19,293,708.00. Following the completion of the transaction, the executive vice president now owns 22,796 shares in the company, valued at $17,148,291. This represents a 52.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 189,804 shares of company stock worth $138,081,963. Insiders own 2.68% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective on the stock in a research report on Wednesday, April 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 research note on Friday, May 23rd. Barclays reiterated an "overweight" rating and issued a $815.00 price target (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Stifel Nicolaus raised their price objective on Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $825.00 target price (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $785.33.

Intuit Trading Up 0.3%

NASDAQ:INTU traded up $2.02 during midday trading on Wednesday, hitting $766.68. 443,236 shares of the company traded hands, compared to its average volume of 1,615,879. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $768.09. The firm's fifty day moving average is $636.68 and its 200-day moving average is $623.91. The firm has a market capitalization of $213.86 billion, a P/E ratio of 74.43, a P/E/G ratio of 2.85 and a beta of 1.24. 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 issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) 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 firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the company earned $9.88 EPS. Intuit's quarterly revenue was up 15.1% compared to the same quarter last year. On average, sell-side analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio is currently 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.