Rosenberg Matthew Hamilton Raises Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Rosenberg Matthew Hamilton boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 4.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 513 shares of the software maker’s stock after purchasing an additional 23 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in Intuit were worth $322,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of INTU. Signal Advisors Wealth LLC increased its stake in shares of Intuit by 8.7% in the fourth quarter. Signal Advisors Wealth LLC now owns 700 shares of the software maker’s stock worth $440,000 after buying an additional 56 shares during the last quarter. Traveka Wealth LLC increased its position in shares of Intuit by 7.8% in the 4th quarter. Traveka Wealth LLC now owns 611 shares of the software maker’s stock worth $384,000 after purchasing an additional 44 shares during the last quarter. Unique Wealth LLC increased its position in shares of Intuit by 8.7% in the 4th quarter. Unique Wealth LLC now owns 4,015 shares of the software maker’s stock worth $2,523,000 after purchasing an additional 322 shares during the last quarter. First Financial Corp IN bought a new position in shares of Intuit during the fourth quarter worth about $72,000. Finally, Miracle Mile Advisors LLC grew its stake in Intuit by 7.9% in the fourth quarter. Miracle Mile Advisors LLC now owns 4,239 shares of the software maker’s stock worth $2,664,000 after purchasing an additional 311 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on INTU shares. Stifel Nicolaus cut their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Morgan Stanley raised their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Barclays reduced their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, Scotiabank began coverage on shares of Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $737.44.

Insider Activity

In related news, CFO Sandeep Aujla sold 109 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the sale, the chief financial officer now directly owns 1,944 shares in the company, valued at approximately $1,221,804. This trade represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark P. Notarainni sold 363 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $228,145.50. Following the completion of the transaction, the executive vice president now directly owns 19 shares in the company, valued at $11,941.50. This represents a 95.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock worth $188,992,187 over the last 90 days. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Performance

INTU stock opened at $613.22 on Tuesday. The company has a 50-day simple moving average of $649.47 and a 200 day simple moving average of $637.94. The company has a market capitalization of $171.65 billion, a P/E ratio of 59.54, a PEG ratio of 3.24 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week 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 (EPS) for the quarter, beating 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 business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period last year, the firm posted $1.14 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. Sell-side analysts predict that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed 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 0.68%. The ex-dividend date is Friday, January 10th. Intuit’s dividend payout ratio is presently 40.39%.

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.