Intuit Inc. (NASDAQ:INTU) Stock Position Raised by CreativeOne Wealth LLC

CreativeOne Wealth LLC lifted its position in Intuit Inc. (NASDAQ:INTU) by 26.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,319 shares of the software maker’s stock after buying an additional 1,947 shares during the quarter. CreativeOne Wealth LLC’s holdings in Intuit were worth $5,787,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in Intuit by 68,404.7% during the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after buying an additional 483,621 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Intuit in the 2nd quarter valued at approximately $184,982,000. Ameriprise Financial Inc. lifted its holdings in Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after purchasing an additional 238,486 shares during the last quarter. Clearbridge Investments LLC boosted its position in Intuit by 21.3% during the second quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock worth $633,766,000 after purchasing an additional 169,190 shares during the period. Finally, Seven Post Investment Office LP acquired a new position in Intuit during the second quarter valued at approximately $107,513,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Up 0.3 %

Shares of Intuit stock opened at $641.01 on Wednesday. The company has a 50-day simple moving average of $634.46 and a 200 day simple moving average of $631.29. The stock has a market capitalization of $179.51 billion, a P/E ratio of 62.02, a price-to-earnings-growth ratio of 3.14 and a beta of 1.25. Intuit Inc. has a 12-month low of $557.29 and a 12-month 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.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 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 business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. Research analysts expect that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is 40.39%.

Insider Buying and Selling

In other Intuit news, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the sale, the chief financial officer now directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. This trade represents a 14.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the sale, the executive vice president now directly owns 20 shares in the company, valued at $12,575.20. This represents a 99.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,265 shares of company stock valued at $35,200,125. 2.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their price target on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Piper Sandler dropped their price objective on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Bank of America boosted their price objective on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Jefferies Financial Group raised their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

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.