Western Wealth Management LLC Raises Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Western Wealth Management LLC boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 39.4% in the fourth quarter, HoldingsChannel reports. The firm owned 548 shares of the software maker’s stock after purchasing an additional 155 shares during the period. Western Wealth Management LLC’s holdings in Intuit were worth $343,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Desjardins Global Asset Management Inc. boosted its holdings in 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 last quarter. GAM Holding AG raised its stake in Intuit by 0.3% during the fourth quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after buying an additional 17 shares in the last quarter. Janiczek Wealth Management LLC raised its stake in Intuit by 2.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock valued at $448,000 after buying an additional 17 shares in the last quarter. Clear Harbor Asset Management LLC raised its stake in Intuit by 0.4% during the fourth quarter. Clear Harbor Asset Management LLC now owns 4,842 shares of the software maker’s stock valued at $3,027,000 after buying an additional 18 shares in the last quarter. Finally, Glenview Trust co raised its stake in Intuit by 1.9% during the third quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock valued at $527,000 after buying an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on INTU. Stifel Nicolaus upped their price objective on Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Piper Sandler upped their price objective on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. KeyCorp upped their price objective on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Oppenheimer increased their price target on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $645.00.

Insider Buying and Selling at Intuit

In other news, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is owned by corporate insiders.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $609.77 on Tuesday. The stock has a fifty day moving average price of $641.98 and a two-hundred day moving average price of $600.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market cap of $170.74 billion, a P/E ratio of 62.22, a PEG ratio of 3.68 and a beta of 1.21. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the company posted $1.05 EPS. Research analysts forecast that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Tuesday, April 9th. Intuit’s payout ratio is currently 36.73%.

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.