Elyxium Wealth LLC Invests $351,000 in Intuit Inc. (NASDAQ:INTU)

Elyxium Wealth LLC acquired a new position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 572 shares of the software maker's stock, valued at approximately $351,000.

A number of other hedge funds have also recently added to or reduced their stakes in INTU. Copia Wealth Management acquired a new stake in Intuit during the 4th quarter worth approximately $25,000. Summit Securities Group LLC bought a new position in Intuit during the fourth quarter worth $28,000. Heck Capital Advisors LLC bought a new position in Intuit during the fourth quarter worth $28,000. Olde Wealth Management LLC bought a new position in Intuit during the first quarter worth $37,000. Finally, Atlantic Edge Private Wealth Management LLC boosted its position in Intuit by 523.1% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock worth $50,000 after purchasing an additional 68 shares during the period. Institutional investors own 83.66% of the company's stock.

Intuit Trading Up 0.2%

Shares of Intuit stock traded up $1.57 on Tuesday, hitting $765.26. The stock had a trading volume of 571,084 shares, compared to its average volume of 1,621,804. The stock has a 50 day moving average of $743.99 and a 200 day moving average of $650.97. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $790.60. 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 firm has a market capitalization of $213.47 billion, a P/E ratio of 62.02, a PEG ratio of 3.34 and a beta of 1.27.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the firm posted $9.88 earnings per share. The firm's revenue was up 15.1% compared to the same quarter last year. Sell-side analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's payout ratio is presently 33.77%.

Insider Activity

In related news, insider Scott D. Cook sold 72,442 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the transaction, the insider directly owned 6,063,495 shares in the company, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandeep Aujla sold 16,061 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer owned 197 shares in the company, valued at approximately $143,047.61. This represents a 98.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 279,800 shares of company stock worth $209,725,054. Company insiders own 2.68% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on INTU. Susquehanna reaffirmed a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. Stifel Nicolaus lifted their target price on Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Barclays reissued an "overweight" rating and set a $815.00 target price (up previously from $775.00) on shares of Intuit in a report on Friday, May 23rd. Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Finally, Piper Sandler reissued an "overweight" rating and set a $825.00 target price (up previously from $785.00) on shares of Intuit in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Intuit has a consensus rating of "Moderate Buy" and an average price target of $800.55.

About Intuit

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.