Meridian Wealth Management LLC Has $775,000 Stock Position in Intuit Inc. (NASDAQ:INTU)

Meridian Wealth Management LLC cut its position in Intuit Inc. (NASDAQ:INTU) by 47.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,240 shares of the software maker’s stock after selling 1,100 shares during the period. Meridian Wealth Management LLC’s holdings in Intuit were worth $775,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Intuit by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock valued at $12,942,784,000 after purchasing an additional 117,478 shares during the last quarter. FMR LLC raised its holdings in shares of Intuit by 5.0% in the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after buying an additional 266,803 shares during the last quarter. Morgan Stanley lifted its position in Intuit by 3.7% during the 3rd quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock worth $1,966,304,000 after buying an additional 137,198 shares in the last quarter. Northern Trust Corp increased its position in Intuit by 5.2% in the 3rd quarter. Northern Trust Corp now owns 3,212,771 shares of the software maker’s stock valued at $1,641,533,000 after acquiring an additional 160,229 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Intuit by 9.5% in the fourth quarter. Fisher Asset Management LLC now owns 3,114,957 shares of the software maker’s stock worth $1,946,943,000 after acquiring an additional 270,414 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Buying and Selling at Intuit

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

Analyst Upgrades and Downgrades

INTU has been the topic of several research analyst reports. BMO Capital Markets reissued an “outperform” rating and set a $700.00 price target on shares of Intuit in a research note on Tuesday, March 26th. Evercore ISI boosted their target price on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Mizuho raised their price target on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Piper Sandler boosted their price objective on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Finally, Oppenheimer raised their target price on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $657.95.

Intuit Price Performance

INTU stock opened at $661.18 on Friday. The stock has a 50-day moving average price of $633.93 and a two-hundred day moving average price of $615.16. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The stock has a market cap of $185.13 billion, a PE ratio of 67.47, a price-to-earnings-growth ratio of 3.98 and a beta of 1.22. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period last year, the company earned $1.05 earnings per share. Intuit’s quarterly revenue was up 11.3% on a year-over-year basis. Equities analysts forecast that Intuit Inc. will post 11.28 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is currently 36.73%.

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.