Spire Wealth Management Boosts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Spire Wealth Management grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 17.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,333 shares of the software maker’s stock after buying an additional 795 shares during the period. Spire Wealth Management’s holdings in Intuit were worth $3,352,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Osborne Partners Capital Management LLC purchased a new position in Intuit in the fourth quarter valued at approximately $216,000. SYM FINANCIAL Corp purchased a new position in shares of Intuit in the 4th quarter valued at $1,079,000. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Intuit by 2.5% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,038 shares of the software maker’s stock valued at $5,052,000 after acquiring an additional 195 shares in the last quarter. Independence Bank of Kentucky boosted its position in Intuit by 14.4% during the 4th quarter. Independence Bank of Kentucky now owns 175 shares of the software maker’s stock worth $110,000 after purchasing an additional 22 shares during the period. Finally, Dohj LLC increased its holdings in Intuit by 7.0% in the 4th quarter. Dohj LLC now owns 3,993 shares of the software maker’s stock valued at $2,510,000 after purchasing an additional 261 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INTU has been the topic of a number of recent research reports. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday, January 15th. Piper Sandler reissued an “overweight” rating and set a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. Scotiabank began coverage on shares of Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Finally, Stifel Nicolaus decreased their target price 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. 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $726.53.

Intuit Trading Down 0.5 %

NASDAQ:INTU opened at $601.51 on Monday. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $168.37 billion, a PE ratio of 58.40, a P/E/G ratio of 2.92 and a beta of 1.25. The business’s 50 day moving average is $630.95 and its two-hundred day moving average is $633.44.

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, 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 firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period last year, the business posted $1.14 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

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. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s dividend payout ratio (DPR) is 40.39%.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the sale, the executive vice president now directly owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This trade represents a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their position. 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. Insiders own 2.68% of the company’s stock.

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.