423 Shares in Intuit Inc. (NASDAQ:INTU) Acquired by Earned Wealth Advisors LLC

Key Points

• Earned Wealth Advisors LLC has invested approximately $260,000 in Intuit Inc. by acquiring 423 shares during the first quarter, highlighting growing institutional interest in the company.
• Morgan Stanley and other research firms have raised their price targets on Intuit, with prices ranging from $870 to $900, indicating strong positive sentiment among analysts and an average price target of $806.27.
• Insider trading was notable, with CFO Sandeep Aujla selling 16,061 shares for around $11.66 million, representing a significant decrease in his ownership stake.

Earned Wealth Advisors LLC bought a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 423 shares of the software maker's stock, valued at approximately $260,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Copia Wealth Management purchased a new stake in Intuit during the 4th quarter worth about $25,000. Heck Capital Advisors LLC purchased a new stake in shares of Intuit in the 4th quarter valued at about $28,000. Olde Wealth Management LLC purchased a new stake in shares of Intuit in the 1st quarter valued at about $37,000. Atlantic Edge Private Wealth Management LLC increased its position in Intuit by 523.1% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock valued at $50,000 after acquiring an additional 68 shares during the period. Finally, Hughes Financial Services LLC acquired a new position in Intuit in the 1st quarter valued at about $50,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INTU has been the topic of several recent analyst reports. CLSA initiated coverage on Intuit in a research report on Thursday, June 26th. They set an "outperform" rating and a $900.00 target price on the stock. Wells Fargo & Company set a $880.00 price target on Intuit and gave the stock an "overweight" rating in a research note on Friday, June 13th. Evercore ISI increased their target price on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Hsbc Global Res upgraded Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group increased their price target on Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Intuit presently has an average rating of "Moderate Buy" and an average target price of $806.27.

Intuit Price Performance

Intuit stock traded down $15.60 during trading hours on Tuesday, hitting $769.27. 1,257,607 shares of the stock were exchanged, compared to its average volume of 1,466,042. 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 stock has a market capitalization of $214.59 billion, a P/E ratio of 62.44, a P/E/G ratio of 3.02 and a beta of 1.28. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $813.70. The business's 50-day moving average is $768.75 and its two-hundred day moving average is $664.40.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating 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 business had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the prior year, the firm earned $9.88 earnings per share. Intuit's revenue was up 15.1% compared to the same quarter last year. Equities research analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 1,147 shares of Intuit stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total value of $887,663.30. Following the sale, the executive vice president directly owned 19 shares in the company, valued at approximately $14,704.10. The trade was a 98.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard L. Dalzell sold 333 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $768.43, for a total transaction of $255,887.19. Following the transaction, the director owned 15,474 shares in the company, valued at $11,890,685.82. This represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 279,800 shares of company stock valued at $209,725,054 over the last quarter. 2.68% of the stock is currently owned by corporate 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.