Avior Wealth Management LLC Boosts Stake in Intuit Inc. (NASDAQ:INTU)

Avior Wealth Management LLC grew its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 99.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,125 shares of the software maker's stock after acquiring an additional 561 shares during the quarter. Avior Wealth Management LLC's holdings in Intuit were worth $691,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Copia Wealth Management acquired a new position in Intuit during the 4th quarter valued at about $25,000. NewSquare Capital LLC lifted its holdings in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Intuit in the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit during the fourth quarter valued at approximately $28,000. Finally, VSM Wealth Advisory LLC bought a new stake in Intuit during the fourth quarter worth $35,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 16,061 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total value of $11,662,373.93. Following the transaction, the chief financial officer now directly owns 197 shares in the company, valued at $143,047.61. This represents a 98.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 62,816 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $765.99, for a total value of $48,116,427.84. Following the completion of the sale, the insider now directly owns 6,000,679 shares in the company, valued at approximately $4,596,460,107.21. The trade was a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 271,158 shares of company stock worth $202,989,194 in the last three months. 2.68% of the stock is currently owned by corporate insiders.

Intuit Stock Performance

NASDAQ INTU traded down $1.17 during trading on Wednesday, hitting $757.86. 1,531,073 shares of the company's stock traded hands, compared to its average volume of 1,610,736. The stock has a market capitalization of $211.41 billion, a price-to-earnings ratio of 61.51, a PEG ratio of 3.38 and a beta of 1.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The business has a 50 day moving average of $689.57 and a 200-day moving average of $636.00. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $773.45.

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

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Analyst Ratings Changes

INTU has been the topic of several recent analyst reports. Evercore ISI raised their price objective on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. HSBC raised shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target on the stock in a research report on Wednesday, April 23rd. Piper Sandler reaffirmed an "overweight" rating and issued a $825.00 price objective (up from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Bank of America lifted their target price on shares of Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, Morgan Stanley restated an "overweight" rating and issued a $785.00 target price (up previously from $720.00) on shares of Intuit in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $787.95.

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.