366 Shares in Intuit Inc. (NASDAQ:INTU) Bought by Onyx Bridge Wealth Group LLC

Onyx Bridge Wealth Group LLC acquired a new position in Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 366 shares of the software maker’s stock, valued at approximately $229,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. NewSquare Capital LLC acquired a new stake in shares of Intuit in the 3rd quarter valued at $25,000. Cape Investment Advisory Inc. acquired a new stake in shares of Intuit during the 3rd quarter worth approximately $26,000. Steward Financial Group LLC lifted its holdings in Intuit by 50.0% in the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock valued at $30,000 after buying an additional 20 shares during the period. Wetzel Investment Advisors Inc. bought a new position in Intuit in the fourth quarter valued at approximately $38,000. Finally, Webster Bank N. A. acquired a new stake in Intuit during the 4th quarter worth $41,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on INTU shares. Stifel Nicolaus raised their price target on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Wells Fargo & Company upped their price target on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 21st. KeyCorp boosted their price objective on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Evercore ISI boosted their price target on shares of Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Finally, JPMorgan Chase & Co. lifted their target price on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $645.00.

Intuit Price Performance

NASDAQ:INTU traded down $3.21 on Friday, hitting $605.17. The company had a trading volume of 1,609,082 shares, compared to its average volume of 1,128,744. Intuit Inc. has a 52 week low of $400.22 and a 52 week high of $671.01. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $169.45 billion, a price-to-earnings ratio of 61.75, a PEG ratio of 3.70 and a beta of 1.21. The firm has a 50 day moving average of $642.93 and a two-hundred day moving average of $599.06.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.33. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. Intuit’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the business posted $1.05 EPS. On average, research analysts anticipate that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is currently 36.73%.

Insider Activity

In related news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the sale, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Alex G. Balazs sold 280 shares of the business’s 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. Over the last 90 days, insiders sold 4,717 shares of company stock valued at $3,117,156. Insiders own 2.90% of the company’s stock.

Intuit 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.