Crewe Advisors LLC Invests $388,000 in Intuit Inc. (NASDAQ:INTU)

Crewe Advisors LLC bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the 4th quarter, HoldingsChannel.com reports. The fund bought 617 shares of the software maker’s stock, valued at approximately $388,000.

Several other institutional investors have also bought and sold shares of INTU. Czech National Bank boosted its holdings in shares of Intuit by 6.7% in the 3rd quarter. Czech National Bank now owns 56,946 shares of the software maker’s stock worth $35,363,000 after buying an additional 3,594 shares during the last quarter. Brookstone Capital Management raised its position in Intuit by 1.8% in the third quarter. Brookstone Capital Management now owns 2,020 shares of the software maker’s stock worth $1,254,000 after acquiring an additional 35 shares during the period. Hoxton Planning & Management LLC boosted its stake in Intuit by 4.2% in the third quarter. Hoxton Planning & Management LLC now owns 1,310 shares of the software maker’s stock valued at $814,000 after acquiring an additional 53 shares during the last quarter. Barlow Wealth Partners Inc. grew its position in shares of Intuit by 1.8% during the 3rd quarter. Barlow Wealth Partners Inc. now owns 16,788 shares of the software maker’s stock valued at $10,114,000 after acquiring an additional 300 shares during the period. Finally, Eagle Wealth Strategies LLC bought a new position in shares of Intuit during the 3rd quarter valued at approximately $278,000. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 0.6 %

Shares of Intuit stock opened at $588.26 on Thursday. The stock has a market capitalization of $164.66 billion, a price-to-earnings ratio of 57.11, a P/E/G ratio of 2.96 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company’s 50 day moving average price is $629.33 and its 200-day moving average price is $632.68. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the firm posted $1.14 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. Equities research analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s payout ratio is currently 40.39%.

Insider Buying and Selling

In related news, EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the transaction, the executive vice president now directly owns 30,010 shares in the company, valued at $18,414,736.20. The trade was a 13.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock valued at $188,992,187 over the last quarter. Corporate insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on INTU. Piper Sandler reiterated an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research note on Friday, January 10th. Morgan Stanley boosted their target price on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Oppenheimer increased their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

About Intuit

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.