Forte Capital LLC ADV Has $18.80 Million Position in Intuit Inc. (NASDAQ:INTU)

Forte Capital LLC ADV lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,073 shares of the software maker’s stock after selling 1,513 shares during the quarter. Intuit accounts for about 2.6% of Forte Capital LLC ADV’s investment portfolio, making the stock its 8th biggest holding. Forte Capital LLC ADV’s holdings in Intuit were worth $18,796,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. DiNuzzo Private Wealth Inc. purchased a new stake in Intuit in the fourth quarter worth approximately $25,000. MCF Advisors LLC boosted its stake in shares of Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after buying an additional 25 shares during the last quarter. NewSquare Capital LLC bought a new stake in shares of Intuit in the third quarter worth $25,000. Cape Investment Advisory Inc. purchased a new stake in Intuit during the third quarter valued at $26,000. Finally, Wetzel Investment Advisors Inc. bought a new position in Intuit in the fourth quarter valued at about $38,000. 83.66% of the stock is owned by institutional investors.

Intuit Price Performance

Shares of Intuit stock traded up $15.23 during trading on Friday, reaching $629.27. 1,109,512 shares of the stock traded hands, compared to its average volume of 1,209,705. Intuit Inc. has a 52-week low of $400.22 and a 52-week high of $671.01. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The business has a fifty day simple moving average of $637.56 and a two-hundred day simple moving average of $605.68. The company has a market capitalization of $176.20 billion, a price-to-earnings ratio of 64.21, a P/E/G ratio of 3.83 and a beta of 1.22.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the company earned $1.05 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. Sell-side analysts expect that Intuit Inc. will post 11.27 EPS for the current 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 paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s payout ratio is 36.73%.

Insider Buying and Selling at Intuit

In related news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the transaction, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the firm’s 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 disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock worth $3,117,156 over the last 90 days. 2.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Oppenheimer increased their price target on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Barclays lifted their price target on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Piper Sandler upped their price objective on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, KeyCorp raised their target price on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $650.23.

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.