Unique Wealth Strategies LLC Takes Position in Intuit Inc. (NASDAQ:INTU)

Unique Wealth Strategies LLC bought a new position in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,843 shares of the software maker’s stock, valued at approximately $1,152,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. Parnassus Investments LLC boosted its stake in Intuit by 42,268.5% during the third quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock valued at $312,161,000 after buying an additional 609,512 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Intuit by 61.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock valued at $690,244,000 after acquiring an additional 514,259 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Intuit by 60,534.9% in the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after purchasing an additional 472,172 shares in the last quarter. FMR LLC increased its position in Intuit by 5.0% in the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock worth $2,879,982,000 after purchasing an additional 266,803 shares during the last quarter. Finally, AustralianSuper Pty Ltd raised its stake in Intuit by 56.2% during the third quarter. AustralianSuper Pty Ltd now owns 617,821 shares of the software maker’s stock valued at $315,669,000 after purchasing an additional 222,317 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 1.6 %

Shares of NASDAQ INTU traded up $10.16 during trading hours on Friday, reaching $636.55. The stock had a trading volume of 1,192,496 shares, compared to its average volume of 1,208,945. Intuit Inc. has a 52-week low of $400.22 and a 52-week high of $671.01. The firm has a market cap of $178.23 billion, a price-to-earnings ratio of 64.95, a P/E/G ratio of 3.81 and a beta of 1.21. The business’s fifty day moving average price is $640.26 and its two-hundred day moving average price is $602.74. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last issued 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. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.05 EPS. Analysts expect that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. Intuit’s dividend payout ratio is presently 36.73%.

Insider Activity at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction on 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 $15,233,800.32. The disclosure for this sale can be found here. Insiders have sold a total of 4,717 shares of company stock valued at $3,117,156 over the last ninety days. 2.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on INTU shares. Stifel Nicolaus lifted their price objective on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. BMO Capital Markets restated an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Oppenheimer raised their price objective on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Monday, April 22nd. Finally, Piper Sandler increased their price target on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $650.23.

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.