Drive Wealth Management LLC Purchases 18 Shares of Intuit Inc. (NASDAQ:INTU)

Drive Wealth Management LLC increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 760 shares of the software maker’s stock after acquiring an additional 18 shares during the period. Drive Wealth Management LLC’s holdings in Intuit were worth $478,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Intuit by 2.9% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,327 shares of the software maker’s stock valued at $1,463,000 after acquiring an additional 65 shares during the period. KFG Wealth Management LLC increased its position in shares of Intuit by 5.3% in the fourth quarter. KFG Wealth Management LLC now owns 900 shares of the software maker’s stock worth $566,000 after purchasing an additional 45 shares during the period. Archford Capital Strategies LLC grew its position in Intuit by 0.6% in the fourth quarter. Archford Capital Strategies LLC now owns 4,079 shares of the software maker’s stock valued at $2,564,000 after acquiring an additional 24 shares during the last quarter. Precedent Wealth Partners LLC grew its stake in shares of Intuit by 10.4% during the fourth quarter. Precedent Wealth Partners LLC now owns 963 shares of the software maker’s stock worth $605,000 after buying an additional 91 shares during the last quarter. Finally, AlphaMark Advisors LLC grew its holdings in Intuit by 6,500.0% during the 4th quarter. AlphaMark Advisors LLC now owns 66 shares of the software maker’s stock worth $41,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of several research analyst reports. Stifel Nicolaus cut their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and issued a $765.00 target price on shares of Intuit in a research report on Friday, January 10th. Scotiabank assumed coverage on shares of Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target on the stock. Jefferies Financial Group increased their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Barclays lowered their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average target price of $726.53.

Insider Buying and Selling

In other news, CEO Sasan K. Goodarzi sold 26,562 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the sale, the chief executive officer now directly owns 37,869 shares of the company’s stock, valued at $23,701,828.41. The trade was a 41.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was 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 owns 6,378,105 shares in the company, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is owned by insiders.

Intuit Price Performance

Shares of INTU stock opened at $597.95 on Monday. The business’s fifty day moving average is $636.69 and its 200 day moving average is $634.99. The stock has a market cap of $167.38 billion, a price-to-earnings ratio of 58.05, a PEG ratio of 3.01 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 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 the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $1.14 EPS. Research analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s payout ratio is 40.39%.

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.