Revolve Wealth Partners LLC Increases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Revolve Wealth Partners LLC raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 145.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 813 shares of the software maker’s stock after buying an additional 482 shares during the period. Revolve Wealth Partners LLC’s holdings in Intuit were worth $511,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC increased its position in Intuit by 68,404.7% in the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after buying an additional 483,621 shares in the last quarter. Holocene Advisors LP lifted its holdings in Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after purchasing an additional 312,212 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares in the last quarter. State Street Corp increased its stake in Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after buying an additional 221,885 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Intuit by 21.3% during the second quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after acquiring an additional 169,190 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Intuit Trading Up 1.4 %

Shares of INTU opened at $606.62 on Tuesday. The company’s fifty day simple moving average is $636.69 and its 200-day simple moving average is $635.00. The company has a market cap of $169.80 billion, a P/E ratio of 58.90, a P/E/G ratio of 3.01 and a beta of 1.25. 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 Inc. has a twelve month low of $557.29 and a twelve month high of $714.78.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.14 EPS. As a group, analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.69%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Analysts Set New Price Targets

INTU has been the subject of several research analyst reports. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research report on Wednesday, January 15th. JPMorgan Chase & Co. increased their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Jefferies Financial Group boosted their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Finally, Stifel Nicolaus decreased their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

Insiders Place Their Bets

In other news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock worth $188,992,187 over the last quarter. Company insiders own 2.68% of the company’s stock.

About Intuit

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.