Moss Adams Wealth Advisors LLC Acquires 186 Shares of Intuit Inc. (NASDAQ:INTU)

Moss Adams Wealth Advisors LLC lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 7.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,642 shares of the software maker’s stock after buying an additional 186 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Intuit were worth $1,622,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Copia Wealth Management purchased a new position in shares of Intuit during the 4th quarter worth about $25,000. NewSquare Capital LLC boosted its stake in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Intuit in the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC acquired a new stake in Intuit in the fourth quarter valued at approximately $28,000. Finally, VSM Wealth Advisory LLC acquired a new stake in Intuit in the fourth quarter valued at approximately $35,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of research analyst reports. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $825.00 price target (up previously from $775.00) on shares of Intuit in a report on Friday, May 23rd. JPMorgan Chase & Co. raised their price target on shares of Intuit from $660.00 to $770.00 and gave the company an “overweight” rating in a research report on Friday, May 23rd. KeyCorp restated an “overweight” rating and set a $850.00 price target (up previously from $770.00) on shares of Intuit in a research report on Friday, May 23rd. Barclays reiterated an “overweight” rating and issued a $815.00 target price (up previously from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Stifel Nicolaus lifted their target price on shares of Intuit from $725.00 to $850.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $785.33.

Intuit Price Performance

Shares of INTU opened at $771.58 on Monday. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $773.45. The firm’s 50 day moving average price is $646.24 and its 200 day moving average price is $625.84. The company has a market cap of $215.23 billion, a P/E ratio of 74.91, a PEG ratio of 2.85 and a beta of 1.28. 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 announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the prior year, the firm earned $9.88 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit’s dividend payout ratio is presently 33.77%.

Insider Activity

In other news, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares in the company, valued at approximately $4,800. This represents a 99.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Alex G. Balazs sold 1,459 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $770.80, for a total transaction of $1,124,597.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 225,592 shares of company stock worth $165,325,437. Corporate insiders own 2.68% 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.