Barlow Wealth Partners Inc. Buys New Position in Intuit Inc. (NASDAQ:INTU)

Barlow Wealth Partners Inc. purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 25,045 shares of the software maker's stock, valued at approximately $15,654,000. Intuit accounts for approximately 2.2% of Barlow Wealth Partners Inc.'s holdings, making the stock its 17th biggest position.

Several other institutional investors have also recently made changes to their positions in INTU. OFI Invest Asset Management purchased a new stake in shares of Intuit during the 3rd quarter valued at about $51,000. V Square Quantitative Management LLC raised its stake in Intuit by 18.8% in the third quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker's stock worth $1,558,000 after buying an additional 482 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in Intuit by 1.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker's stock valued at $13,293,000 after acquiring an additional 226 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in Intuit by 12.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker's stock worth $9,400,000 after purchasing an additional 2,074 shares in the last quarter. Finally, Hixon Zuercher LLC acquired a new position in shares of Intuit in the fourth quarter valued at about $1,292,000. Institutional investors own 83.66% of the company's stock.

Intuit Trading Down 1.4 %

INTU stock traded down $8.72 during mid-day trading on Wednesday, reaching $632.43. 889,523 shares of the stock traded hands, compared to its average volume of 1,228,042. The stock's fifty day moving average is $636.41 and its 200-day moving average is $608.45. The company has a market cap of $177.08 billion, a P/E ratio of 64.47, a P/E/G ratio of 3.83 and a beta of 1.22. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 52-week low of $400.22 and a 52-week high of $671.01.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $2.30 by $0.33. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business's quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the business earned $1.05 EPS. As a group, sell-side analysts expect that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were issued a dividend of $0.90 per share. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.57%. Intuit's dividend payout ratio is presently 36.73%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Piper Sandler lifted their price target on Intuit from $642.00 to $750.00 and gave the company an "overweight" rating in a research report on Friday, February 23rd. Mizuho increased their price target on shares of Intuit from $670.00 to $725.00 and gave the stock a "buy" rating in a report on Friday, February 23rd. Stifel Nicolaus lifted their price objective on shares of Intuit from $600.00 to $720.00 and gave the company a "buy" rating in a report on Friday, February 23rd. Evercore ISI boosted their price objective on Intuit from $670.00 to $725.00 and gave the stock an "outperform" rating in a research note on Friday, February 23rd. Finally, BMO Capital Markets reissued an "outperform" rating and set a $700.00 price target on shares of Intuit in a research report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $650.23.

Insiders Place Their Bets

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares of the company's stock, valued at approximately $15,233,800.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intuit news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kerry J. Mclean sold 3,692 shares of the firm's stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the sale, the executive vice president now owns 22,948 shares of the company's stock, valued at $15,233,800.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,717 shares of company stock worth $3,117,156. Company insiders own 2.90% of the company's stock.

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.

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