Intuit Inc. (NASDAQ:INTU) Shares Purchased by Capital Asset Advisory Services LLC

Capital Asset Advisory Services LLC boosted its position in Intuit Inc. (NASDAQ:INTU) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,262 shares of the software maker’s stock after purchasing an additional 252 shares during the period. Capital Asset Advisory Services LLC’s holdings in Intuit were worth $3,316,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in INTU. AQR Capital Management LLC lifted its position in Intuit by 37.3% in the second quarter. AQR Capital Management LLC now owns 50,487 shares of the software maker’s stock valued at $32,954,000 after purchasing an additional 13,721 shares during the period. Kathmere Capital Management LLC lifted its position in Intuit by 9.5% in the second quarter. Kathmere Capital Management LLC now owns 436 shares of the software maker’s stock valued at $287,000 after purchasing an additional 38 shares during the period. Ascent Group LLC lifted its position in shares of Intuit by 6.8% during the 2nd quarter. Ascent Group LLC now owns 4,803 shares of the software maker’s stock valued at $3,157,000 after acquiring an additional 307 shares during the period. Aviso Wealth Management lifted its position in shares of Intuit by 4.9% during the 2nd quarter. Aviso Wealth Management now owns 362 shares of the software maker’s stock valued at $238,000 after acquiring an additional 17 shares during the period. Finally, Buck Wealth Strategies LLC lifted its position in shares of Intuit by 148.3% during the 2nd quarter. Buck Wealth Strategies LLC now owns 12,626 shares of the software maker’s stock valued at $8,299,000 after acquiring an additional 7,541 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the transaction, the chief financial officer now owns 1,944 shares in the company, valued at $1,221,804. The trade was a 5.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is currently owned by corporate insiders.

Intuit Stock Down 0.1 %

INTU stock opened at $597.95 on Monday. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company has a 50 day moving average price of $636.69 and a two-hundred day moving average price of $634.99. The stock has a market capitalization of $167.38 billion, a P/E ratio of 58.05, a PEG ratio of 3.01 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the previous year, the company earned $1.14 EPS. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.70%. Intuit’s dividend payout ratio is presently 40.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Scotiabank assumed coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Jefferies Financial Group lifted their price target on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Oppenheimer raised their price objective 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. Stifel Nicolaus dropped their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, Piper Sandler reissued an “overweight” rating and set a $765.00 price objective on shares of Intuit in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

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.