Austin Private Wealth LLC Increases Stake in Intuit Inc. (NASDAQ:INTU)

Austin Private Wealth LLC raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 115.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 913 shares of the software maker’s stock after buying an additional 489 shares during the quarter. Austin Private Wealth LLC’s holdings in Intuit were worth $571,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of INTU. Glenview Trust co lifted its stake in Intuit by 1.9% in the 3rd quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock worth $527,000 after purchasing an additional 19 shares in the last quarter. Verity Asset Management Inc. increased its holdings in shares of Intuit by 2.5% in the third quarter. Verity Asset Management Inc. now owns 769 shares of the software maker’s stock valued at $393,000 after purchasing an additional 19 shares during the last quarter. Steward Financial Group LLC lifted its position in Intuit by 50.0% during the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after buying an additional 20 shares in the last quarter. Stratos Wealth Advisors LLC boosted its stake in Intuit by 0.9% during the third quarter. Stratos Wealth Advisors LLC now owns 2,240 shares of the software maker’s stock worth $1,145,000 after buying an additional 20 shares during the last quarter. Finally, Hamilton Point Investment Advisors LLC grew its holdings in Intuit by 2.4% in the 3rd quarter. Hamilton Point Investment Advisors LLC now owns 862 shares of the software maker’s stock valued at $440,000 after buying an additional 20 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Up 0.2 %

Shares of NASDAQ:INTU opened at $650.00 on Friday. The firm’s 50-day moving average is $646.73 and its two-hundred day moving average is $587.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The firm has a market capitalization of $182 billion, a PE ratio of 66.33, a price-to-earnings-growth ratio of 3.95 and a beta of 1.22.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the prior year, the firm earned $1.05 EPS. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. Analysts predict that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.55%. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

Insider Buying and Selling

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Laura A. Fennell sold 14,771 shares of Intuit stock in a transaction on Friday, January 5th. The stock was sold at an average price of $589.60, for a total transaction of $8,708,981.60. Following the sale, the executive vice president now directly owns 50,030 shares of the company’s stock, valued at $29,497,688. The disclosure for this sale can be found here. Insiders sold 34,260 shares of company stock valued at $20,667,475 in the last three months. 2.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on INTU shares. JPMorgan Chase & Co. lifted their price target on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. KeyCorp boosted their target price on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a report on Wednesday. Piper Sandler increased their price target on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Mizuho lifted their price target on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, Evercore ISI increased their price objective on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average price target of $645.00.

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.