Stratos Wealth Advisors LLC Raises Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Stratos Wealth Advisors LLC raised its stake in Intuit Inc. (NASDAQ:INTU) by 5.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,241 shares of the software maker’s stock after purchasing an additional 121 shares during the period. Stratos Wealth Advisors LLC’s holdings in Intuit were worth $1,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Stratos Wealth Partners LTD. grew its position in shares of Intuit by 1.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 9,091 shares of the software maker’s stock worth $5,714,000 after buying an additional 114 shares during the last quarter. Sargent Investment Group LLC boosted its stake in Intuit by 1.6% in the fourth quarter. Sargent Investment Group LLC now owns 1,757 shares of the software maker’s stock valued at $1,077,000 after acquiring an additional 28 shares in the last quarter. Ninety One SA PTY Ltd grew its holdings in Intuit by 4.0% in the fourth quarter. Ninety One SA PTY Ltd now owns 4,062 shares of the software maker’s stock worth $2,553,000 after purchasing an additional 156 shares during the last quarter. RFG Holdings Inc. increased its position in shares of Intuit by 15.5% during the fourth quarter. RFG Holdings Inc. now owns 1,219 shares of the software maker’s stock worth $768,000 after purchasing an additional 164 shares in the last quarter. Finally, E. Ohman J or Asset Management AB lifted its holdings in shares of Intuit by 2.0% during the 4th quarter. E. Ohman J or Asset Management AB now owns 74,254 shares of the software maker’s stock valued at $46,669,000 after purchasing an additional 1,480 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Intuit

In other news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred 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 owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on INTU. Stifel Nicolaus dropped their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Scotiabank began coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Barclays dropped their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, Piper Sandler reiterated an “overweight” rating and set a $765.00 price objective on shares of Intuit in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $590.20 on Friday. The company has a market capitalization of $165.21 billion, a PE ratio of 57.30, a price-to-earnings-growth ratio of 2.96 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company’s fifty day moving average price is $628.37 and its 200 day moving average price is $632.37. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78.

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

Intuit Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.70%. Intuit’s dividend payout ratio (DPR) is 40.39%.

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.