Opal Wealth Advisors LLC Grows Position in Intuit Inc. (NASDAQ:INTU)

Opal Wealth Advisors LLC grew its position in Intuit Inc. (NASDAQ:INTU) by 8.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 450 shares of the software maker’s stock after acquiring an additional 35 shares during the quarter. Opal Wealth Advisors LLC’s holdings in Intuit were worth $283,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of INTU. Savant Capital LLC lifted its position in Intuit by 13.4% during the 4th quarter. Savant Capital LLC now owns 3,394 shares of the software maker’s stock worth $2,133,000 after acquiring an additional 401 shares during the period. Canvas Wealth Advisors LLC raised its stake in shares of Intuit by 11.3% during the fourth quarter. Canvas Wealth Advisors LLC now owns 591 shares of the software maker’s stock worth $371,000 after purchasing an additional 60 shares during the last quarter. Angeles Wealth Management LLC lifted its holdings in shares of Intuit by 13.3% during the fourth quarter. Angeles Wealth Management LLC now owns 443 shares of the software maker’s stock worth $278,000 after purchasing an additional 52 shares during the period. Wealthstar Advisors LLC purchased a new position in Intuit in the 4th quarter valued at $581,000. Finally, Martin Capital Advisors LLP increased its stake in Intuit by 2.3% in the 4th quarter. Martin Capital Advisors LLP now owns 5,611 shares of the software maker’s stock valued at $3,527,000 after buying an additional 125 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction on Friday, January 10th. The shares were 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the 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 completion of the transaction, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by company insiders.

Intuit Stock Down 1.9 %

Shares of NASDAQ:INTU opened at $578.85 on Monday. The company has a market capitalization of $162.03 billion, a P/E ratio of 56.20, a P/E/G ratio of 2.91 and a beta of 1.24. The stock’s fifty day simple moving average is $626.20 and its 200-day simple moving average is $631.58. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

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

Intuit Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on INTU shares. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Piper Sandler restated an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. 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. Stifel Nicolaus decreased their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $726.53.

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.