Intuit Inc. (NASDAQ:INTU) Shares Acquired by Transform Wealth LLC

Transform Wealth LLC increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 7.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 812 shares of the software maker’s stock after purchasing an additional 57 shares during the period. Transform Wealth LLC’s holdings in Intuit were worth $528,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in INTU. Desjardins Global Asset Management Inc. lifted its stake in shares of Intuit by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock valued at $738,000 after purchasing an additional 16 shares during the period. JFS Wealth Advisors LLC boosted its stake in shares of Intuit by 1.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock worth $978,000 after acquiring an additional 16 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Intuit by 3.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock worth $281,000 after acquiring an additional 16 shares in the last quarter. GAM Holding AG increased its stake in Intuit by 0.3% in the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after purchasing an additional 17 shares in the last quarter. Finally, Janiczek Wealth Management LLC increased its stake in Intuit by 2.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock valued at $448,000 after purchasing an additional 17 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity at Intuit

In other news, EVP Mark P. Notarainni sold 465 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $281,129.70. Following the sale, the executive vice president now directly owns 869 shares in the company, valued at approximately $525,380.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Mark P. Notarainni sold 465 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the completion of the transaction, the executive vice president now owns 869 shares of the company’s stock, valued at $525,380.02. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the sale, the insider now directly owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The disclosure for this sale can be found here. Insiders sold a total of 193,937 shares of company stock valued at $113,123,232 in the last quarter. Insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of several research reports. Susquehanna lowered their target price on Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a report on Friday, May 24th. KeyCorp increased their price objective on shares of Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Wells Fargo & Company lifted their target price on shares of Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Piper Sandler upped their price target on shares of Intuit from $750.00 to $760.00 and gave the company an “overweight” rating in a report on Friday, May 24th. Finally, Erste Group Bank reissued a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $679.41.

Intuit Stock Performance

NASDAQ:INTU traded up $13.96 during trading hours on Thursday, reaching $651.44. 1,478,025 shares of the stock were exchanged, compared to its average volume of 1,347,828. The stock has a market capitalization of $182.11 billion, a P/E ratio of 60.08, a P/E/G ratio of 3.61 and a beta of 1.21. The firm has a 50 day simple moving average of $616.71 and a 200-day simple moving average of $627.26. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. Intuit Inc. has a 52 week low of $444.19 and a 52 week high of $676.62.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.12 by $1.76. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted $7.80 EPS. As a group, sell-side analysts forecast that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Wednesday, July 10th. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

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.