Stratos Wealth Partners LTD. Boosts Stock Position in Intuit Inc. (NASDAQ:INTU)

Stratos Wealth Partners LTD. grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,091 shares of the software maker’s stock after purchasing an additional 114 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Intuit were worth $5,714,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in INTU. International Assets Investment Management LLC increased its holdings in Intuit by 68,404.7% in the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after acquiring an additional 483,621 shares during the last quarter. Holocene Advisors LP boosted its position in Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after purchasing an additional 312,212 shares during the period. Nordea Investment Management AB increased its stake in shares of Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares in the last quarter. State Street Corp raised its position in shares of Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after purchasing an additional 221,885 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Intuit during the 4th quarter valued at approximately $104,278,000. 83.66% of the stock is currently owned by institutional investors.

Insider Activity

In other Intuit news, EVP Laura A. Fennell sold 7,700 shares of Intuit stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total value of $5,063,828.00. Following the completion of the transaction, the executive vice president now directly owns 33,916 shares of the company’s stock, valued at approximately $22,304,518.24. The trade was a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the transaction, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. This represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the subject of several recent research reports. Scotiabank initiated coverage on Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target for the company. Stifel Nicolaus reduced their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and issued a $765.00 price target on shares of Intuit in a report on Friday, January 10th. Oppenheimer boosted their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Stock Down 0.6 %

Shares of NASDAQ:INTU opened at $588.26 on Thursday. The firm has a market capitalization of $164.66 billion, a P/E ratio of 57.11, a P/E/G ratio of 2.96 and a beta of 1.24. 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 50 day moving average price of $629.33 and a 200-day moving average price of $632.68. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping 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 earned $1.14 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio 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.