Three Bridge Wealth Advisors LLC Grows Holdings in Intuit Inc. (NASDAQ:INTU)

Three Bridge Wealth Advisors LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 77.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,592 shares of the software maker’s stock after purchasing an additional 1,131 shares during the period. Three Bridge Wealth Advisors LLC’s holdings in Intuit were worth $1,629,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Intuit during the 4th quarter worth approximately $68,429,000. Van ECK Associates Corp raised its stake in shares of Intuit by 0.8% during the fourth quarter. Van ECK Associates Corp now owns 60,419 shares of the software maker’s stock worth $37,973,000 after purchasing an additional 497 shares during the last quarter. Values First Advisors Inc. lifted its holdings in shares of Intuit by 397.4% during the fourth quarter. Values First Advisors Inc. now owns 960 shares of the software maker’s stock worth $603,000 after purchasing an additional 767 shares during the period. Davidson Capital Management Inc. grew its position in Intuit by 4.4% in the 4th quarter. Davidson Capital Management Inc. now owns 5,371 shares of the software maker’s stock valued at $3,376,000 after buying an additional 227 shares during the last quarter. Finally, Capital Advisors Inc. OK grew its position in Intuit by 17.5% in the 4th quarter. Capital Advisors Inc. OK now owns 511 shares of the software maker’s stock valued at $321,000 after buying an additional 76 shares during the last quarter. 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 analyst reports. Morgan Stanley upped their price objective on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Stifel Nicolaus cut their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Oppenheimer lifted their price objective on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Barclays dropped their target price on 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 reissued an “overweight” rating and issued a $765.00 price target on shares of Intuit in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Stock Down 1.6 %

INTU stock opened at $576.54 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company’s 50 day simple moving average is $624.25 and its 200-day simple moving average is $631.05. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The firm has a market capitalization of $161.39 billion, a PE ratio of 55.97, a P/E/G ratio of 2.91 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced 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. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.72%. Intuit’s dividend payout ratio is currently 40.39%.

Insider Transactions at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares of the company’s stock, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock worth $188,992,187 over the last ninety days. 2.68% of the stock is currently owned by corporate insiders.

Intuit Company 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.