Arkadios Wealth Advisors grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 1,280.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 621 shares of the software maker’s stock after buying an additional 576 shares during the quarter. Arkadios Wealth Advisors’ holdings in Intuit were worth $237,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MUFG Americas Holdings Corp raised its holdings in Intuit by 1,600.0% in the fourth quarter. MUFG Americas Holdings Corp now owns 68 shares of the software maker’s stock worth $26,000 after purchasing an additional 64 shares during the period. Clearview Wealth Advisors LLC acquired a new stake in Intuit in the 4th quarter worth about $29,000. TRU Independence Asset Management 2 LLC acquired a new position in shares of Intuit in the 4th quarter valued at approximately $29,000. Encompass Wealth Advisors LLC acquired a new position in Intuit during the 4th quarter worth approximately $29,000. Finally, Concord Wealth Partners acquired a new position in Intuit during the 4th quarter worth approximately $37,000. 84.79% of the stock is currently owned by institutional investors and hedge funds.
Shares of INTU opened at $411.34 on Tuesday. The firm’s 50 day simple moving average is $400.13 and its 200 day simple moving average is $376.89. The company has a market capitalization of $112.64 billion, a P/E ratio of 55.21, a P/E/G ratio of 4.29 and a beta of 0.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.09 and a quick ratio of 3.09. Intuit Inc. has a 1-year low of $258.30 and a 1-year high of $423.74.
Intuit (NASDAQ:INTU) last announced its earnings results on Tuesday, February 23rd. The software maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.55. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.61 billion. Intuit had a net margin of 25.10% and a return on equity of 40.29%. Intuit’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period last year, the firm posted $1.16 earnings per share. On average, equities analysts anticipate that Intuit Inc. will post 5.87 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 19th. Shareholders of record on Monday, April 12th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Friday, April 9th. Intuit’s dividend payout ratio (DPR) is presently 35.98%.
In other Intuit news, CFO Michelle M. Clatterbuck sold 2,253 shares of Intuit stock in a transaction that occurred on Tuesday, March 2nd. The shares were sold at an average price of $403.51, for a total transaction of $909,108.03. Following the transaction, the chief financial officer now directly owns 4,293 shares of the company’s stock, valued at $1,732,268.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James Alexander Chriss sold 364 shares of Intuit stock in a transaction that occurred on Thursday, February 25th. The stock was sold at an average price of $407.38, for a total transaction of $148,286.32. Following the transaction, the executive vice president now directly owns 221 shares in the company, valued at $90,030.98. The disclosure for this sale can be found here. Company insiders own 3.38% of the company’s stock.
A number of research firms have recently commented on INTU. Bank of America reaffirmed a “buy” rating and issued a $460.00 price objective on shares of Intuit in a research note on Wednesday, April 14th. Morgan Stanley reiterated a “buy” rating and set a $470.00 target price on shares of Intuit in a research report on Tuesday, April 6th. KeyCorp increased their target price on shares of Intuit from $400.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 2nd. Wells Fargo & Company increased their target price on shares of Intuit from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 2nd. Finally, Piper Sandler increased their target price on shares of Intuit from $458.00 to $470.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 3rd. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Intuit has a consensus rating of “Buy” and a consensus price target of $431.65.
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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.
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