Darwin Wealth Management LLC Invests $2.57 Million in Intuit Inc. (NASDAQ:INTU)

Darwin Wealth Management LLC bought a new position in shares of Intuit Inc. (NASDAQ:INTU) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,143 shares of the software maker’s stock, valued at approximately $2,573,000.

Several other hedge funds have also recently added to or reduced their stakes in INTU. Legal & General Group Plc increased its holdings in shares of Intuit by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock valued at $1,538,236,000 after acquiring an additional 23,995 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after purchasing an additional 238,486 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Intuit by 4.2% during the second quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock worth $925,262,000 after purchasing an additional 56,370 shares in the last quarter. Capital World Investors lifted its position in shares of Intuit by 1.0% during the 1st quarter. Capital World Investors now owns 1,188,779 shares of the software maker’s stock worth $772,706,000 after buying an additional 12,068 shares during the last quarter. Finally, Unisphere Establishment boosted its holdings in shares of Intuit by 4.2% in the 2nd quarter. Unisphere Establishment now owns 1,000,000 shares of the software maker’s stock valued at $657,210,000 after buying an additional 40,000 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

INTU stock opened at $650.00 on Wednesday. The firm has a 50 day moving average of $634.32 and a 200-day moving average of $630.75. The company has a market cap of $182.19 billion, a price-to-earnings ratio of 61.64, a PEG ratio of 3.36 and a beta of 1.25. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 earnings per share. As a group, equities analysts expect that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

INTU has been the topic of several research analyst reports. Jefferies Financial Group lifted their price target on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Barclays boosted their target price on Intuit from $740.00 to $800.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Susquehanna reiterated a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. JPMorgan Chase & Co. raised their target price on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Finally, Scotiabank began coverage on shares of Intuit in a research report on Monday. They issued a “sector perform” rating and a $700.00 price target for the company. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $737.06.

Insider Buying and Selling at Intuit

In other news, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the transaction, the executive vice president now directly owns 20 shares of the company’s stock, valued at $12,575.20. The trade was a 99.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eve B. Burton sold 2,988 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock valued at $35,220,046 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

Intuit 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.