Intuit Inc. (NASDAQ:INTU) Shares Acquired by Archford Capital Strategies LLC

Archford Capital Strategies LLC boosted its position in Intuit Inc. (NASDAQ:INTU) by 0.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,079 shares of the software maker’s stock after acquiring an additional 24 shares during the period. Archford Capital Strategies LLC’s holdings in Intuit were worth $2,564,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Brown Financial Advisors lifted its stake in Intuit by 0.9% in the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after buying an additional 15 shares during the last quarter. Truvestments Capital LLC boosted its stake in shares of Intuit by 1.5% during the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after acquiring an additional 16 shares in the last quarter. Aviso Wealth Management lifted its stake in Intuit by 4.9% during the second quarter. Aviso Wealth Management now owns 362 shares of the software maker’s stock valued at $238,000 after buying an additional 17 shares in the last quarter. CVA Family Office LLC boosted its stake in Intuit by 3.3% in the 3rd quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock worth $330,000 after purchasing an additional 17 shares during the period. Finally, Chris Bulman Inc boosted its position in shares of Intuit by 1.1% in the third quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock worth $944,000 after buying an additional 17 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intuit

In other Intuit news, CFO Sandeep Aujla sold 109 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the sale, the chief financial officer now owns 1,944 shares in the company, valued at approximately $1,221,804. The trade was a 5.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. Insiders 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.

Intuit Trading Down 0.1 %

NASDAQ INTU opened at $597.95 on Friday. The stock has a 50-day simple moving average of $636.69 and a 200 day simple moving average of $635.10. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $167.38 billion, a PE ratio of 58.05, a P/E/G ratio of 3.01 and a beta of 1.25. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $3.14 billion. During the same period in the prior year, the company earned $1.14 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. Research analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on INTU shares. Jefferies Financial Group boosted their price objective 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. JPMorgan Chase & Co. increased their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Scotiabank began coverage on Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Piper Sandler reiterated an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. Finally, BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research report on Wednesday, January 15th. 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 stock. Based on data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average price target 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.