Intuit Inc. (NASDAQ:INTU) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. decreased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,532 shares of the software maker’s stock after selling 47 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Intuit were worth $1,551,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Brown Financial Advisors raised its stake in Intuit by 0.9% in the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after acquiring an additional 15 shares during the last quarter. Truvestments Capital LLC raised its stake in shares of Intuit by 1.5% in the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after purchasing an additional 16 shares during the last quarter. PFG Investments LLC lifted its holdings in shares of Intuit by 1.1% during the second quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock worth $1,024,000 after purchasing an additional 17 shares during the period. Plancorp LLC boosted its position in Intuit by 2.0% in the second quarter. Plancorp LLC now owns 881 shares of the software maker’s stock valued at $579,000 after buying an additional 17 shares during the last quarter. Finally, Aviso Wealth Management increased its holdings in Intuit by 4.9% in the 2nd quarter. Aviso Wealth Management now owns 362 shares of the software maker’s stock worth $238,000 after buying an additional 17 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ INTU opened at $671.50 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $187.96 billion, a PE ratio of 65.19, a PEG ratio of 3.31 and a beta of 1.24. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The firm has a fifty day moving average of $641.34 and a 200 day moving average of $632.84.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, research analysts predict that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio is presently 40.39%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Bank of America upped their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Stifel Nicolaus lowered their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group lifted their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Piper Sandler lowered their target price on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, Barclays reduced their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. This represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 150,542 shares of company stock worth $97,235,054. 2.68% of the stock is owned by corporate insiders.

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.