McClarren Financial Advisors Inc. Makes New Investment in Intuit Inc. (NASDAQ:INTU)

McClarren Financial Advisors Inc. purchased a new position in Intuit Inc. (NASDAQ:INTU) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 449 shares of the software maker’s stock, valued at approximately $282,000. Intuit comprises approximately 0.8% of McClarren Financial Advisors Inc.’s investment portfolio, making the stock its 23rd biggest holding.

A number of other hedge funds also recently modified their holdings of INTU. R Squared Ltd bought a new stake in Intuit during the 4th quarter worth approximately $25,000. Northwest Investment Counselors LLC bought a new position in Intuit in the third quarter valued at approximately $27,000. Heck Capital Advisors LLC acquired a new position in shares of Intuit in the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit during the fourth quarter worth $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Intuit during the fourth quarter worth $29,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on INTU shares. Stifel Nicolaus reduced 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and set a $765.00 price objective on shares of Intuit in a report on Friday, January 10th. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. Finally, Morgan Stanley raised their price target on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Insider Buying and Selling at Intuit

In related news, EVP Mark P. Notarainni sold 3,649 shares of Intuit stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the completion of the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at approximately $12,286.92. This trade represents a 99.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction 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 approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock worth $188,992,187 over the last ninety days. Insiders own 2.68% of the company’s stock.

Intuit Stock Down 1.6 %

Shares of INTU stock opened at $576.54 on Thursday. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. 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 stock has a market cap of $161.39 billion, a price-to-earnings ratio of 55.97, a PEG ratio of 2.91 and a beta of 1.24. The firm’s 50-day moving average is $624.25 and its 200-day moving average is $631.05.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $3.14 billion. During the same quarter in the prior year, the company earned $1.14 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.72%. Intuit’s dividend payout ratio (DPR) is 40.39%.

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.