Vest Financial LLC Buys 676 Shares of Intuit Inc. (NASDAQ:INTU)

Vest Financial LLC grew its stake in Intuit Inc. (NASDAQ:INTU) by 28.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,033 shares of the software maker’s stock after purchasing an additional 676 shares during the quarter. Vest Financial LLC’s holdings in Intuit were worth $1,906,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. R Squared Ltd bought a new stake in shares of Intuit during the fourth quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new position in Intuit during the third quarter valued at $27,000. Heck Capital Advisors LLC bought a new stake in shares of Intuit during the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit in the 4th quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Intuit in the 4th quarter worth about $29,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now owns 489 shares in the company, valued at $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company’s stock.

Intuit Stock Performance

NASDAQ:INTU opened at $578.85 on Friday. The stock has a 50-day moving average price of $626.20 and a 200 day moving average price of $631.62. 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 12-month low of $557.29 and a 12-month high of $714.78. The stock has a market capitalization of $162.03 billion, a P/E ratio of 56.20, a P/E/G ratio of 2.91 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its quarterly earnings data 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 net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the business posted $1.14 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced 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 0.72%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of analyst reports. Morgan Stanley boosted their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. Scotiabank initiated coverage on Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target for the company. Piper Sandler reiterated an “overweight” rating and issued a $765.00 price target on shares of Intuit in a research note on Friday, January 10th. Finally, Stifel Nicolaus decreased their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report 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’s stock. According to MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus price target of $726.53.

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.