RB Capital Management LLC Increases Position in Intuit Inc. (NASDAQ:INTU)

RB Capital Management LLC boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,169 shares of the software maker’s stock after acquiring an additional 18 shares during the period. RB Capital Management LLC’s holdings in Intuit were worth $1,968,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of INTU. LVW Advisors LLC grew its stake in Intuit by 20.5% during the second quarter. LVW Advisors LLC now owns 394 shares of the software maker’s stock valued at $259,000 after acquiring an additional 67 shares in the last quarter. M&G Plc grew its stake in Intuit by 4.4% during the second quarter. M&G Plc now owns 36,648 shares of the software maker’s stock valued at $24,078,000 after acquiring an additional 1,542 shares in the last quarter. Burke & Herbert Bank & Trust Co. grew its stake in Intuit by 45.1% during the second quarter. Burke & Herbert Bank & Trust Co. now owns 1,291 shares of the software maker’s stock valued at $848,000 after acquiring an additional 401 shares in the last quarter. Diversified Trust Co grew its stake in Intuit by 43.1% during the second quarter. Diversified Trust Co now owns 4,505 shares of the software maker’s stock valued at $2,961,000 after acquiring an additional 1,356 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Intuit by 1.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 27,528 shares of the software maker’s stock valued at $18,092,000 after acquiring an additional 260 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday, December 4th. Oppenheimer increased their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Scotiabank assumed coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. Jefferies Financial Group increased their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Stifel Nicolaus lowered their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $737.44.

Intuit Trading Up 0.0 %

INTU stock opened at $646.58 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $180.99 billion, a PE ratio of 62.77, a P/E/G ratio of 3.19 and a beta of 1.25. The firm’s 50-day moving average is $635.59 and its 200 day moving average is $630.43. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 EPS. On average, research analysts anticipate that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is 40.39%.

Insider Buying and Selling at Intuit

In other news, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark P. Notarainni sold 3,649 shares of Intuit stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the completion of the transaction, the executive vice president now directly owns 19 shares in the company, valued at approximately $12,286.92. The trade was a 99.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,032 shares of company stock valued at $76,314,242. Company insiders own 2.68% of the company’s stock.

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.