Intuit Inc. (NASDAQ:INTU) Shares Purchased by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC raised its stake in Intuit Inc. (NASDAQ:INTU) by 116.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,941 shares of the software maker’s stock after acquiring an additional 1,046 shares during the period. Connecticut Wealth Management LLC’s holdings in Intuit were worth $1,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. acquired a new position in Intuit during the fourth quarter worth approximately $25,000. MCF Advisors LLC increased its holdings in shares of Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after acquiring an additional 25 shares during the period. NewSquare Capital LLC purchased a new stake in Intuit in the 3rd quarter valued at $25,000. Cape Investment Advisory Inc. purchased a new position in Intuit during the 3rd quarter worth $26,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in Intuit in the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ:INTU traded up $15.23 on Friday, reaching $629.27. 1,109,512 shares of the company traded hands, compared to its average volume of 1,209,705. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market capitalization of $176.20 billion, a PE ratio of 64.21, a P/E/G ratio of 3.83 and a beta of 1.22. The company’s 50 day moving average is $637.56 and its 200-day moving average is $606.70. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. Intuit’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.05 earnings per share. As a group, analysts anticipate that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were given a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

Insider Buying and Selling

In other news, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,717 shares of company stock valued at $3,117,156. Company insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

INTU has been the topic of several recent research reports. Stifel Nicolaus boosted their price target on Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Piper Sandler boosted their price target on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Wells Fargo & Company raised their target price on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. Susquehanna upped their price target on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $650.23.

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.