Fullcircle Wealth LLC Takes Position in Intuit Inc. (NASDAQ:INTU)

Fullcircle Wealth LLC bought a new position in Intuit Inc. (NASDAQ:INTU - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 414 shares of the software maker's stock, valued at approximately $256,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Intuit by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock worth $107,854,000 after buying an additional 3,648 shares during the last quarter. Pinnacle Financial Partners Inc boosted its stake in shares of Intuit by 3.6% in the 1st quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker's stock worth $10,922,000 after buying an additional 623 shares during the last quarter. Capitolis Liquid Global Markets LLC purchased a new position in shares of Intuit in the 4th quarter worth $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Intuit in the 4th quarter worth $237,244,000. Finally, Baer Investment Advisory LLC purchased a new position in shares of Intuit in the 4th quarter worth $3,261,000. Institutional investors own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on INTU. KeyCorp restated an "overweight" rating and issued a $850.00 price target (up from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Hsbc Global Res upgraded Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. BMO Capital Markets set a $870.00 target price on Intuit and gave the company an "outperform" rating in a research report on Thursday. Piper Sandler reiterated an "overweight" rating and set a $825.00 target price (up from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $800.55.

Insider Activity at Intuit

In other news, EVP Mark P. Notarainni sold 1,147 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total transaction of $887,663.30. Following the transaction, the executive vice president owned 19 shares of the company's stock, valued at approximately $14,704.10. This represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Sandeep Aujla sold 2,591 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $782.22, for a total value of $2,026,732.02. Following the transaction, the chief financial officer directly owned 768 shares in the company, valued at approximately $600,744.96. This represents a 77.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 279,467 shares of company stock valued at $209,469,167 over the last ninety days. 2.68% of the stock is currently owned by company insiders.

Intuit Price Performance

Shares of INTU stock traded down $18.63 during trading hours on Thursday, hitting $749.93. The stock had a trading volume of 1,046,720 shares, compared to its average volume of 1,620,574. Intuit Inc. has a one year low of $532.65 and a one year high of $790.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The stock's 50-day moving average price is $728.22 and its two-hundred day moving average price is $645.23. The stock has a market capitalization of $209.19 billion, a price-to-earnings ratio of 60.87, a PEG ratio of 3.48 and a beta of 1.27.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the previous year, the firm posted $9.88 earnings per share. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. Equities analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.55%. Intuit's payout ratio is currently 33.77%.

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.