Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 105 Shares of Intuit Inc. (NASDAQ:INTU)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 4.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,389 shares of the software maker’s stock after purchasing an additional 105 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Intuit were worth $1,493,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of INTU. NBT Bank N A NY bought a new stake in Intuit during the 3rd quarter valued at about $408,000. Chicago Partners Investment Group LLC increased its stake in Intuit by 13.1% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,037 shares of the software maker’s stock valued at $2,035,000 after purchasing an additional 468 shares in the last quarter. Park Avenue Securities LLC bought a new stake in Intuit during the 3rd quarter valued at about $3,417,000. Catalyst Financial Partners LLC increased its stake in Intuit by 7.6% during the 3rd quarter. Catalyst Financial Partners LLC now owns 782 shares of the software maker’s stock valued at $400,000 after purchasing an additional 55 shares in the last quarter. Finally, Graypoint LLC increased its stake in Intuit by 9.1% during the 3rd quarter. Graypoint LLC now owns 1,695 shares of the software maker’s stock valued at $866,000 after purchasing an additional 142 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Oppenheimer raised their price target on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Mizuho raised their price target on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Susquehanna raised their price target on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Evercore ISI raised 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, KeyCorp raised their price target on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $650.23.

Insider Buying and Selling

In related news, 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 value of $178,186.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 have sold 4,717 shares of company stock worth $3,117,156. Insiders own 2.90% of the company’s stock.

Intuit Price Performance

Shares of Intuit stock traded down $10.16 on Wednesday, hitting $630.99. 211,135 shares of the company traded hands, compared to its average volume of 1,220,155. The stock has a market capitalization of $176.68 billion, a P/E ratio of 65.42, a price-to-earnings-growth ratio of 3.83 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. Intuit Inc. has a 52 week low of $400.22 and a 52 week high of $671.01. The business has a 50-day simple moving average of $636.41 and a 200 day simple moving average of $608.45.

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

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s dividend payout ratio is presently 36.73%.

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.