McClarren Financial Advisors Inc. Makes New $282,000 Investment in Intuit Inc. (NASDAQ:INTU)

McClarren Financial Advisors Inc. acquired a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 449 shares of the software maker’s stock, valued at approximately $282,000. Intuit comprises 0.8% of McClarren Financial Advisors Inc.’s holdings, making the stock its 23rd largest position.

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

Insider Buying and Selling

In other Intuit news, CEO Sasan K. Goodarzi sold 26,562 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the transaction, the chief executive officer now owns 37,869 shares in the company, valued at approximately $23,701,828.41. This trade represents a 41.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock valued at $188,992,187 over the last ninety days. Insiders own 2.68% of the company’s stock.

Intuit Stock Down 1.6 %

NASDAQ:INTU opened at $576.54 on Thursday. The company has a market cap of $161.39 billion, a price-to-earnings ratio of 55.97, a P/E/G ratio of 2.91 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’s fifty day moving average price is $624.25 and its two-hundred day moving average price is $631.05. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results 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. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 earnings per share. On average, analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on INTU shares. JPMorgan Chase & Co. lifted their price objective on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Jefferies Financial Group increased their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Oppenheimer lifted their price objective on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $765.00 target price on shares of Intuit in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus price target of $726.53.

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.