Pacific Wealth Management Acquires 105 Shares of Intuit Inc. (NASDAQ:INTU)

Pacific Wealth Management lifted its stake in Intuit Inc. (NASDAQ:INTU) by 20.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 613 shares of the software maker’s stock after acquiring an additional 105 shares during the quarter. Intuit makes up approximately 0.2% of Pacific Wealth Management’s investment portfolio, making the stock its 18th largest position. Pacific Wealth Management’s holdings in Intuit were worth $383,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of INTU. Desjardins Global Asset Management Inc. lifted its position in shares of Intuit by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock valued at $738,000 after buying an additional 16 shares during the last quarter. GAM Holding AG increased its stake in shares of Intuit by 0.3% during the fourth quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock worth $3,671,000 after purchasing an additional 17 shares during the period. Janiczek Wealth Management LLC increased its stake in shares of Intuit by 2.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after purchasing an additional 17 shares during the period. Clear Harbor Asset Management LLC grew its holdings in Intuit by 0.4% in the 4th quarter. Clear Harbor Asset Management LLC now owns 4,842 shares of the software maker’s stock valued at $3,027,000 after buying an additional 18 shares in the last quarter. Finally, Glenview Trust co increased its position in Intuit by 1.9% during the 3rd quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock worth $527,000 after buying an additional 19 shares during the period. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

INTU has been the topic of a number of recent research reports. Piper Sandler raised their price target on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Wells Fargo & Company increased their price objective on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 21st. Mizuho lifted their price objective on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Barclays raised their target price on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Finally, Evercore ISI lifted their price target on shares of Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $645.00.

Intuit Stock Performance

Shares of INTU traded down $2.60 during trading hours on Thursday, hitting $610.61. The company’s stock had a trading volume of 226,811 shares, compared to its average volume of 1,236,337. The business has a 50 day simple moving average of $644.88 and a two-hundred day simple moving average of $598.39. Intuit Inc. has a 52-week low of $400.22 and a 52-week high of $671.01. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market cap of $170.97 billion, a price-to-earnings ratio of 62.54, a PEG ratio of 3.72 and a beta of 1.21.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. Intuit’s revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 EPS. On average, equities analysts expect that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s payout ratio is 36.73%.

Insider Activity

In other news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares in the company, valued at approximately $2,083,313.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alex G. Balazs sold 280 shares of the business’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 transaction of $178,186.40. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock worth $3,117,156 in the last three months. Corporate insiders own 2.90% of the company’s stock.

Intuit 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.