Canvas Wealth Advisors LLC Purchases 60 Shares of Intuit Inc. (NASDAQ:INTU)

Canvas Wealth Advisors LLC boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 11.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 591 shares of the software maker’s stock after buying an additional 60 shares during the period. Canvas Wealth Advisors LLC’s holdings in Intuit were worth $371,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In related news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock worth $188,992,187 in the last quarter. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Down 1.9 %

Shares of Intuit stock opened at $578.85 on Monday. 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 company has a market cap of $162.03 billion, a P/E ratio of 56.20, a PEG ratio of 2.91 and a beta of 1.24. The company’s fifty day simple moving average is $626.20 and its two-hundred day simple moving average is $631.58.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 earnings per share. Research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.72%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is 40.39%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on INTU shares. Barclays reduced their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Scotiabank initiated coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. BNP Paribas downgraded 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. JPMorgan Chase & Co. increased their price target on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

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.