David Wealth Management LLC Buys Shares of 609 Intuit Inc. (NASDAQ:INTU)

David Wealth Management LLC acquired a new position in Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 609 shares of the software maker’s stock, valued at approximately $383,000. Intuit accounts for approximately 0.3% of David Wealth Management LLC’s portfolio, making the stock its 29th largest holding.

A number of other institutional investors also recently bought and sold shares of INTU. State Street Corp increased 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 purchasing an additional 221,885 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Intuit by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after buying an additional 80,463 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Intuit by 2.9% in the 3rd 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 raised its stake in Intuit by 4.0% during 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 worth $1,428,790,000 after acquiring an additional 87,517 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Intuit by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock worth $1,048,524,000 after purchasing an additional 26,914 shares during the period. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of Intuit 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 in the company, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mark P. Notarainni sold 3,649 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the transaction, the executive vice president now owns 19 shares in the company, valued at approximately $12,286.92. The trade was a 99.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock valued at $188,992,187 in the last three months. Company insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Morgan Stanley upped 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. Scotiabank initiated coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research report on Wednesday, January 15th. Finally, Oppenheimer boosted their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Stock Down 0.2 %

Shares of NASDAQ INTU opened at $585.88 on Wednesday. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The firm has a 50-day simple moving average of $625.25 and a two-hundred day simple moving average of $631.39. The company has a market cap of $164.00 billion, a P/E ratio of 56.88, a PEG ratio of 2.91 and a beta of 1.24. 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 data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the previous year, the business earned $1.14 EPS. Intuit’s revenue was up 10.2% compared to the same quarter last year. Research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were issued a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.71%. 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.