Trueblood Wealth Management LLC Acquires 22 Shares of Intuit Inc. (NASDAQ:INTU)

Trueblood Wealth Management LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,730 shares of the software maker’s stock after purchasing an additional 22 shares during the period. Trueblood Wealth Management LLC’s holdings in Intuit were worth $1,087,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new stake in Intuit in the 3rd quarter worth about $27,000. Denver PWM LLC purchased a new position in shares of Intuit in the 3rd quarter worth approximately $32,000. Dunhill Financial LLC grew its holdings in shares of Intuit by 110.3% in the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after acquiring an additional 32 shares in the last quarter. Kimelman & Baird LLC purchased a new stake in shares of Intuit during the second quarter valued at approximately $49,000. Finally, Pacifica Partners Inc. lifted its holdings in Intuit by 27.7% during the fourth quarter. Pacifica Partners Inc. now owns 83 shares of the software maker’s stock worth $52,000 after acquiring an additional 18 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on INTU shares. Oppenheimer raised their price objective on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a report on Wednesday, January 15th. Barclays reduced their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Finally, Scotiabank began coverage on Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average target price of $726.53.

Intuit Price Performance

INTU stock opened at $604.13 on Monday. The firm has a 50 day simple moving average of $646.09 and a two-hundred day simple moving average of $636.93. The stock has a market cap of $169.11 billion, a PE ratio of 58.65, a P/E/G ratio of 3.07 and a beta of 1.25. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 earnings per share. On average, analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Friday, January 10th. Intuit’s payout ratio is 40.39%.

Insider Activity

In related news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares of the company’s stock, valued at approximately $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock worth $188,992,187 in the last quarter. 2.68% of the stock is owned by company insiders.

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.