David Wealth Management LLC Invests $383,000 in Intuit Inc. (NASDAQ:INTU)

David Wealth Management LLC bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 609 shares of the software maker’s stock, valued at approximately $383,000. Intuit comprises 0.3% of David Wealth Management LLC’s investment portfolio, making the stock its 29th biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd purchased a new position in Intuit in the fourth quarter worth $25,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit during the 3rd quarter valued at about $27,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit during the 4th quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit in the fourth quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in Intuit during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $585.88 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company’s fifty day moving average price is $625.25 and its 200-day moving average price is $631.39. The stock has a market cap of $164.00 billion, a PE ratio of 56.88, a price-to-earnings-growth ratio of 2.91 and a beta of 1.24. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business 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 company earned $1.14 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. On average, equities analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.71%. Intuit’s payout ratio is presently 40.39%.

Analyst Ratings Changes

A number of brokerages recently commented on INTU. Barclays lowered their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. lifted their price target on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Scotiabank assumed coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. Finally, Oppenheimer lifted their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. One 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Insider Transactions at Intuit

In other news, 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 transaction of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares of the company’s stock, valued at $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the 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 sale, the chief accounting officer now directly 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 disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock valued at $188,992,187 in the last quarter. 2.68% of the stock is owned by insiders.

Intuit 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.