New Wave Wealth Advisors LLC purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU – Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 204 shares of the software maker’s stock, valued at approximately $128,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in Intuit during the fourth quarter worth $25,000. Northwest Investment Counselors LLC purchased a new position in Intuit during the 3rd quarter worth $27,000. Sugar Maple Asset Management LLC purchased a new position in Intuit during the 4th quarter worth $29,000. Denver PWM LLC bought a new stake in shares of Intuit in the 3rd quarter worth $32,000. Finally, Dunhill Financial LLC raised its holdings in shares of Intuit by 110.3% in the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after purchasing an additional 32 shares during the last quarter. 83.66% of the stock is owned by institutional investors.
Insider Activity at Intuit
In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the transaction, the executive vice president now directly owns 30,010 shares in the company, valued at approximately $18,414,736.20. The trade was a 13.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293,014 shares of company stock valued at $188,992,187. Corporate insiders own 2.68% of the company’s stock.
Intuit Trading Down 0.5 %
Intuit (NASDAQ:INTU – Get Free Report) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the company posted $1.14 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.
Intuit Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were given a $1.04 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s dividend payout ratio (DPR) is currently 40.39%.
Analyst Ratings Changes
Several research analysts recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. Morgan Stanley boosted their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Oppenheimer increased their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Jefferies Financial Group upped their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $726.53.
View Our Latest Research Report on Intuit
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.
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