Principle Wealth Partners LLC Raises Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Principle Wealth Partners LLC boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 9.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,328 shares of the software maker’s stock after purchasing an additional 118 shares during the quarter. Principle Wealth Partners LLC’s holdings in Intuit were worth $835,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Brown Financial Advisors raised its holdings in shares of Intuit by 0.9% during the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after acquiring an additional 15 shares during the last quarter. Truvestments Capital LLC raised its holdings in shares of Intuit by 1.5% during the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after acquiring an additional 16 shares during the last quarter. Chris Bulman Inc raised its holdings in shares of Intuit by 1.1% during the third quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock valued at $944,000 after acquiring an additional 17 shares during the last quarter. Freedom Day Solutions LLC raised its holdings in shares of Intuit by 0.4% during the third quarter. Freedom Day Solutions LLC now owns 4,186 shares of the software maker’s stock valued at $2,599,000 after acquiring an additional 17 shares during the last quarter. Finally, Covenant Partners LLC raised its holdings in shares of Intuit by 3.4% during the third quarter. Covenant Partners LLC now owns 521 shares of the software maker’s stock valued at $324,000 after acquiring an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on INTU. Jefferies Financial Group increased 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. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a report on Wednesday, January 15th. JPMorgan Chase & Co. increased their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Barclays cut their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Oppenheimer increased their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. One 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Trading Down 0.2 %

INTU opened at $585.88 on Wednesday. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The business has a fifty day simple moving average of $625.25 and a 200-day simple moving average of $631.39. The firm has a market cap of $164.00 billion, a P/E ratio of 56.88, a P/E/G ratio of 2.91 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping 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 last year, the business posted $1.14 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

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

Insider Transactions at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % 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 worth $188,992,187 over the last ninety days. Company insiders own 2.68% of the company’s stock.

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.