SteelPeak Wealth LLC Purchases 6,188 Shares of Intuit Inc. (NASDAQ:INTU)

SteelPeak Wealth LLC boosted its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 26.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,596 shares of the software maker's stock after acquiring an additional 6,188 shares during the period. Intuit accounts for about 0.8% of SteelPeak Wealth LLC's holdings, making the stock its 29th biggest position. SteelPeak Wealth LLC's holdings in Intuit were worth $18,172,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC raised its holdings in shares of Intuit by 18.0% during the 4th quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker's stock valued at $68,000 after purchasing an additional 18 shares in the last quarter. Financial Management Professionals Inc. grew its stake in Intuit by 18.4% in the 1st quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock valued at $71,000 after buying an additional 18 shares during the last quarter. Chris Bulman Inc grew its stake in Intuit by 1.2% in the 1st quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock valued at $935,000 after buying an additional 18 shares during the last quarter. Plancorp LLC grew its stake in Intuit by 2.2% in the 4th quarter. Plancorp LLC now owns 889 shares of the software maker's stock valued at $559,000 after buying an additional 19 shares during the last quarter. Finally, Kolinsky Wealth Management LLC grew its stake in Intuit by 1.6% in the 4th quarter. Kolinsky Wealth Management LLC now owns 1,192 shares of the software maker's stock valued at $749,000 after buying an additional 19 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Activity at Intuit

In other Intuit news, 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 completion of the sale, the chief financial officer owned 768 shares of the company's stock, valued at approximately $600,744.96. This represents a 77.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard L. Dalzell sold 333 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total transaction of $255,887.19. Following the completion of the sale, the director directly owned 15,474 shares of the company's stock, valued at $11,890,685.82. The trade was a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 279,800 shares of company stock worth $209,725,054 over the last 90 days. Insiders own 2.68% of the company's stock.

Intuit Price Performance

Shares of NASDAQ INTU traded up $4.85 during trading on Monday, reaching $752.75. The company had a trading volume of 1,114,928 shares, compared to its average volume of 1,621,564. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $790.60. The stock has a market cap of $209.98 billion, a PE ratio of 61.10, a PEG ratio of 3.33 and a beta of 1.27. 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's 50 day moving average price is $733.03 and its 200-day moving average price is $646.71.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts' consensus estimates 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 in the previous year, the firm posted $9.88 earnings per share. The company's revenue was up 15.1% on a year-over-year basis. Analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

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

Analyst Upgrades and Downgrades

INTU has been the topic of a number of research analyst reports. KeyCorp reiterated an "overweight" rating and issued a $850.00 target price (up from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Wells Fargo & Company set a $880.00 price target on shares of Intuit and gave the stock an "overweight" rating in a research report on Friday, June 13th. Royal Bank Of Canada restated an "outperform" rating and issued a $850.00 price target (up from $760.00) on shares of Intuit in a research report on Friday, May 23rd. Oppenheimer restated an "outperform" rating and issued a $742.00 price target (up from $642.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Morgan Stanley raised their price target on shares of Intuit from $785.00 to $900.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Intuit currently has a consensus rating of "Moderate Buy" and an average target price of $800.55.

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.