Meadow Creek Wealth Advisors LLC Increases Position in Intuit Inc. (NASDAQ:INTU)

Meadow Creek Wealth Advisors LLC raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 3.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 937 shares of the software maker’s stock after purchasing an additional 32 shares during the period. Meadow Creek Wealth Advisors LLC’s holdings in Intuit were worth $582,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Chris Bulman Inc raised its holdings in shares of Intuit by 1.1% during the 3rd quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock valued at $944,000 after buying an additional 17 shares in the last quarter. Elevated Capital Advisors LLC grew its position in Intuit by 2.1% during the third quarter. Elevated Capital Advisors LLC now owns 1,479 shares of the software maker’s stock valued at $918,000 after acquiring an additional 30 shares during the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Intuit by 89.4% during the third quarter. Bank Pictet & Cie Europe AG now owns 1,744 shares of the software maker’s stock worth $1,083,000 after acquiring an additional 823 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of Intuit during the third quarter worth approximately $4,144,000. Finally, Marietta Wealth Management LLC lifted its holdings in shares of Intuit by 3.2% in the 3rd quarter. Marietta Wealth Management LLC now owns 11,694 shares of the software maker’s stock worth $7,262,000 after acquiring an additional 362 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

INTU has been the topic of several recent research reports. Royal Bank of Canada initiated coverage on shares of Intuit in a report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 target price on the stock. Susquehanna reaffirmed a “positive” rating and set a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. JPMorgan Chase & Co. boosted their target price on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Finally, Barclays decreased their price target on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $735.71.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 2,461 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the transaction, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares in the company, valued at $4,111,853,974.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 over the last ninety days. 2.90% of the stock is owned by corporate insiders.

Intuit Stock Down 0.5 %

Shares of NASDAQ INTU opened at $606.59 on Wednesday. The firm has a fifty day simple moving average of $629.40 and a two-hundred day simple moving average of $627.34. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $169.57 billion, a PE ratio of 55.99, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. Intuit’s revenue was up 17.4% on a year-over-year basis. Equities analysts expect that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is presently 38.38%.

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.