Belpointe Asset Management LLC Has $393,000 Stake in Intuit Inc. (NASDAQ:INTU)

Belpointe Asset Management LLC lifted its holdings in Intuit Inc. (NASDAQ:INTUFree Report) by 4.8% during the 4th quarter, Holdings Channel reports. The fund owned 628 shares of the software maker’s stock after acquiring an additional 29 shares during the quarter. Belpointe Asset Management LLC’s holdings in Intuit were worth $393,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. DiNuzzo Private Wealth Inc. bought a new position in Intuit in the 4th quarter valued at $25,000. MCF Advisors LLC increased its stake in shares of Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after buying an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new position in shares of Intuit in the fourth quarter valued at about $38,000. Sachetta LLC acquired a new position in Intuit during the 4th quarter worth about $39,000. Finally, Webster Bank N. A. acquired a new position in Intuit during the 4th quarter worth about $41,000. 83.66% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Scott D. Cook sold 14,748 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the completion of the sale, the insider now owns 6,701,721 shares of the company’s stock, valued at $3,802,556,495.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intuit news, insider Scott D. Cook sold 14,748 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the completion of the transaction, the insider now owns 6,701,721 shares of the company’s stock, valued at approximately $3,802,556,495.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Insiders sold 91,908 shares of company stock worth $54,521,562 over the last quarter. 2.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. UBS Group boosted their target price on shares of Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research note on Monday, May 20th. JPMorgan Chase & Co. boosted their price objective on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Barclays upped their price objective on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. KeyCorp boosted their target price on Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $679.41.

Check Out Our Latest Report on INTU

Intuit Price Performance

Shares of INTU stock opened at $572.65 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. Intuit Inc. has a 12-month low of $419.30 and a 12-month high of $676.62. The firm has a fifty day moving average of $623.66 and a 200-day moving average of $623.39. The firm has a market capitalization of $160.08 billion, a price-to-earnings ratio of 52.83, a price-to-earnings-growth ratio of 3.28 and a beta of 1.21.

Intuit (NASDAQ:INTUGet Free Report) last posted 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. The firm had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $7.80 earnings per share. On average, equities research analysts forecast that Intuit Inc. will post 11.72 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s payout ratio is currently 33.21%.

About Intuit

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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