469 Shares in Intuit Inc. (NASDAQ:INTU) Acquired by MN Wealth Advisors LLC

MN Wealth Advisors LLC purchased a new position in shares of Intuit Inc. (NASDAQ:INTU) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 469 shares of the software maker’s stock, valued at approximately $288,000.

Several other hedge funds have also added to or reduced their stakes in INTU. Brighton Jones LLC lifted its position in shares of Intuit by 61.3% during the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker’s stock valued at $2,233,000 after acquiring an additional 1,350 shares during the period. Union Bancaire Privee UBP SA bought a new stake in shares of Intuit during the 4th quarter valued at $104,278,000. Revolve Wealth Partners LLC lifted its position in shares of Intuit by 145.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker’s stock valued at $511,000 after acquiring an additional 482 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Intuit during the 4th quarter valued at $68,429,000. Finally, Bank Pictet & Cie Europe AG lifted its position in shares of Intuit by 14.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker’s stock valued at $1,252,000 after acquiring an additional 248 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Price Performance

Shares of INTU opened at $764.90 on Wednesday. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $773.45. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The company has a market capitalization of $213.37 billion, a price-to-earnings ratio of 62.09, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28. The business has a 50-day moving average of $672.69 and a 200-day moving average of $632.02.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the company earned $9.88 earnings per share. The firm’s revenue was up 15.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.54%. Intuit’s payout ratio is currently 33.77%.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 72,442 shares of Intuit stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the completion of the sale, the insider now directly owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. The trade was a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares of the company’s stock, valued at approximately $4,800. The trade was a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 288,408 shares of company stock worth $213,441,865. 2.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and set a $820.00 target price (up from $714.00) on shares of Intuit in a research report on Friday, May 23rd. UBS Group set a $750.00 price objective on Intuit and gave the company a “neutral” rating in a research note on Friday, May 23rd. HSBC raised Intuit from a “hold” rating to a “buy” rating and set a $699.00 price objective on the stock in a research note on Wednesday, April 23rd. Barclays reaffirmed an “overweight” rating and issued a $815.00 price objective (up from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $785.00 price objective (up from $720.00) on shares of Intuit in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $787.95.

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.