Intuit Inc. (NASDAQ:INTU) Shares Acquired by Opal Wealth Advisors LLC

Opal Wealth Advisors LLC boosted its stake in Intuit Inc. (NASDAQ:INTU) by 8.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 450 shares of the software maker’s stock after acquiring an additional 35 shares during the period. Opal Wealth Advisors LLC’s holdings in Intuit were worth $283,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Nordea Investment Management AB grew its stake in Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. acquired a new position in shares of Intuit in the 4th quarter worth approximately $621,000. Harvest Portfolios Group Inc. increased its holdings in shares of Intuit by 5.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after acquiring an additional 1,853 shares during the last quarter. Retireful LLC acquired a new stake in shares of Intuit during the 3rd quarter valued at approximately $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Intuit during the third quarter worth $56,144,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Down 1.9 %

NASDAQ INTU opened at $578.85 on Monday. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The company has a market capitalization of $162.03 billion, a P/E ratio of 56.20, a PEG ratio of 2.91 and a beta of 1.24. The company’s 50 day simple moving average is $626.20 and its 200 day simple moving average is $631.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 earnings per share. Equities research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were given a $1.04 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.72%. Intuit’s dividend payout ratio (DPR) is 40.39%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on INTU shares. Piper Sandler reissued an “overweight” rating and set a $765.00 target price on shares of Intuit in a report on Friday, January 10th. Morgan Stanley raised their target price on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Jefferies Financial Group upped their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Finally, BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research report on Wednesday, January 15th. 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $726.53.

Insider Buying and Selling

In other news, EVP Laura A. Fennell sold 7,700 shares of Intuit stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the transaction, the executive vice president now owns 33,916 shares in the company, valued at approximately $22,304,518.24. The trade was a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the 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 directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 corporate insiders.

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.