Money Concepts Capital Corp Has $885,000 Holdings in Intuit Inc. (NASDAQ:INTU)

Money Concepts Capital Corp raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.8% during the 4th quarter, HoldingsChannel reports. The fund owned 1,408 shares of the software maker’s stock after purchasing an additional 51 shares during the period. Money Concepts Capital Corp’s holdings in Intuit were worth $885,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Nordea Investment Management AB increased its stake in Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after buying an additional 268,060 shares during the period. Whalen Wealth Management Inc. purchased a new position in shares of Intuit during the 4th quarter valued at $621,000. Harvest Portfolios Group Inc. increased its stake in shares of Intuit by 5.4% in the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after acquiring an additional 1,853 shares during the last quarter. Retireful LLC purchased a new stake in shares of Intuit during the third quarter worth $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Intuit during the third quarter valued at $56,144,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the sale, the executive vice president now owns 30,010 shares of the company’s stock, valued at $18,414,736.20. The trade was a 13.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock valued at $188,992,187 in the last quarter. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Down 0.6 %

INTU opened at $588.26 on Thursday. The business has a 50 day moving average of $629.33 and a 200-day moving average of $632.68. The stock has a market capitalization of $164.66 billion, a price-to-earnings ratio of 57.11, a P/E/G ratio of 2.96 and a beta of 1.24. 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 1-year low of $557.29 and a 1-year high of $714.78.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion during 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 business’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 EPS. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.71%. Intuit’s dividend payout ratio is 40.39%.

Analyst Ratings Changes

A number of research firms have recently weighed in on INTU. Morgan Stanley raised their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. raised their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Oppenheimer increased their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Finally, BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

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.