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

B. Riley Wealth Advisors Inc. lifted its stake in Intuit Inc. (NASDAQ:INTU – Get Rating) by 4.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 8,985 shares of the software maker’s stock after buying an additional 360 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Intuit were worth $3,480,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of INTU. Altshuler Shaham Ltd purchased a new stake in shares of Intuit in the 3rd quarter worth about $25,000. SRS Capital Advisors Inc. lifted its position in Intuit by 81.0% during the 2nd quarter. SRS Capital Advisors Inc. now owns 76 shares of the software maker’s stock valued at $29,000 after acquiring an additional 34 shares during the period. Householder Group Estate & Retirement Specialist LLC purchased a new position in Intuit during the 3rd quarter valued at about $49,000. Eagle Bay Advisors LLC purchased a new position in Intuit during the 2nd quarter valued at about $52,000. Finally, Hillsdale Investment Management Inc. lifted its position in Intuit by 23.8% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 161 shares of the software maker’s stock valued at $62,000 after acquiring an additional 31 shares during the period. 82.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, EVP James Alexander Chriss sold 597 shares of Intuit stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $400.00, for a total transaction of $238,800.00. Following the transaction, the executive vice president now owns 344 shares of the company’s stock, valued at $137,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Lauren D. Hotz sold 500 shares of the business’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $413.16, for a total value of $206,580.00. Following the transaction, the chief accounting officer now owns 1,781 shares of the company’s stock, valued at $735,837.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP James Alexander Chriss sold 597 shares of the business’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $400.00, for a total transaction of $238,800.00. Following the completion of the transaction, the executive vice president now directly owns 344 shares in the company, valued at approximately $137,600. The disclosure for this sale can be found here. Insiders have sold 7,925 shares of company stock valued at $3,258,123 over the last 90 days. 3.18% of the stock is currently owned by corporate insiders.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $418.15 on Friday. The firm has a 50 day moving average of $408.03 and a 200 day moving average of $404.37. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $117.31 billion, a price-to-earnings ratio of 61.31, a price-to-earnings-growth ratio of 2.91 and a beta of 1.16. Intuit Inc. has a 12-month low of $339.36 and a 12-month high of $507.71.

Intuit (NASDAQ:INTU – Get Rating) last announced its earnings results on Thursday, February 23rd. The software maker reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.76. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.91 billion. Intuit had a net margin of 14.22% and a return on equity of 14.89%. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.67 earnings per share. On average, research analysts anticipate that Intuit Inc. will post 9.04 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 18th. Shareholders of record on Monday, April 10th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 0.75%. The ex-dividend date is Thursday, April 6th. Intuit’s dividend payout ratio is currently 45.75%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on INTU shares. Wells Fargo & Company lowered their price target on shares of Intuit from $525.00 to $475.00 and set an “overweight” rating for the company in a research report on Wednesday, November 30th. UBS Group started coverage on shares of Intuit in a report on Wednesday. They issued a “neutral” rating and a $430.00 target price for the company. Citigroup lifted their target price on shares of Intuit from $457.00 to $475.00 and gave the stock a “buy” rating in a report on Monday, February 27th. Piper Sandler lifted their target price on shares of Intuit from $459.00 to $510.00 and gave the stock an “overweight” rating in a report on Friday, February 24th. Finally, Bank of America decreased their target price on shares of Intuit from $500.00 to $475.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $483.53.

Intuit Profile

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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.