VCI Wealth Management LLC Purchases New Shares in Intuit Inc. (NASDAQ:INTU)

VCI Wealth Management LLC purchased a new stake in Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,242 shares of the software maker’s stock, valued at approximately $776,000.

A number of other institutional investors have also recently added to or reduced their stakes in INTU. Founders Financial Securities LLC lifted its holdings in Intuit by 9.6% in the 3rd quarter. Founders Financial Securities LLC now owns 640 shares of the software maker’s stock valued at $327,000 after purchasing an additional 56 shares in the last quarter. Meridian Wealth Management LLC lifted its holdings in Intuit by 77.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 2,340 shares of the software maker’s stock valued at $1,196,000 after purchasing an additional 1,020 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in Intuit by 1.5% in the 3rd quarter. Boston Trust Walden Corp now owns 3,683 shares of the software maker’s stock valued at $1,882,000 after purchasing an additional 56 shares in the last quarter. Strategic Blueprint LLC purchased a new position in Intuit in the 3rd quarter valued at $221,000. Finally, SS&H Financial Advisors Inc. purchased a new position in Intuit in the 3rd quarter valued at $652,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Down 1.4 %

NASDAQ INTU traded down $9.10 during trading on Thursday, hitting $626.39. The stock had a trading volume of 1,241,615 shares, compared to its average volume of 1,250,544. The company has a market capitalization of $175.39 billion, a PE ratio of 63.34, a PEG ratio of 3.84 and a beta of 1.21. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average price of $641.40 and a 200 day moving average price of $601.86. Intuit Inc. has a twelve month low of $400.22 and a twelve month high of $671.01.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the company posted $1.05 EPS. Intuit’s revenue was up 11.3% compared to the same quarter last year. As a group, equities research analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

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

Insider Transactions at Intuit

In other news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were 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 $2,083,313.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on INTU shares. BMO Capital Markets restated an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a report on Tuesday, March 26th. Evercore ISI lifted their price target on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Piper Sandler lifted their price target on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. KeyCorp lifted their price target on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Finally, Oppenheimer lifted their price target on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average price target of $650.23.

Intuit Company 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.