Intuit Inc. (NASDAQ:INTU) Stake Lifted by Paladin Wealth LLC

Paladin Wealth LLC increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 13.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 997 shares of the software maker’s stock after purchasing an additional 120 shares during the period. Paladin Wealth LLC’s holdings in Intuit were worth $627,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after buying an additional 221,885 shares in the last quarter. Geode Capital Management LLC grew its holdings in Intuit by 1.4% during the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after acquiring an additional 80,463 shares during the period. Fisher Asset Management LLC raised its position in Intuit by 2.9% in the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after acquiring an additional 107,482 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Intuit by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock valued at $1,428,790,000 after acquiring an additional 87,517 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Intuit by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock valued at $1,048,524,000 after purchasing an additional 26,914 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on INTU shares. Scotiabank initiated 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. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a report on Wednesday, January 15th. Oppenheimer lifted their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Finally, Barclays reduced their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $726.53.

Insider Activity

In related news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 6,378,105 shares of the company’s stock, 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. In the last 90 days, insiders have sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by corporate insiders.

Intuit Price Performance

INTU opened at $586.84 on Tuesday. The stock has a fifty day moving average price of $626.20 and a 200 day moving average price of $631.66. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The stock has a market cap of $164.27 billion, a price-to-earnings ratio of 56.97, a PEG ratio of 2.91 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced 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. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the company earned $1.14 EPS. The firm’s revenue was up 10.2% on a year-over-year basis. Analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.71%. Intuit’s dividend payout ratio (DPR) is 40.39%.

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.