Apollon Wealth Management LLC Has $7.83 Million Stake in Intuit Inc. (NASDAQ:INTU)

Apollon Wealth Management LLC boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 14.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,452 shares of the software maker’s stock after buying an additional 1,589 shares during the quarter. Apollon Wealth Management LLC’s holdings in Intuit were worth $7,826,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in INTU. State Street Corp raised its holdings in Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after purchasing an additional 221,885 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Intuit by 1.4% during the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after buying an additional 80,463 shares during the period. Fisher Asset Management LLC raised its stake in Intuit by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after buying an additional 107,482 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Intuit by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock valued at $1,428,790,000 after buying an additional 87,517 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Intuit by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock valued at $1,048,524,000 after acquiring an additional 26,914 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 109 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the sale, the chief financial officer now owns 1,944 shares in the company, valued at approximately $1,221,804. This represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on INTU. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research report on Wednesday, January 15th. JPMorgan Chase & Co. increased their price target on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Stifel Nicolaus lowered their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $578.85 on Friday. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The company’s 50-day moving average is $627.45 and its 200 day moving average is $632.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $162.03 billion, a P/E ratio of 56.20, a price-to-earnings-growth ratio of 2.91 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 EPS. On average, equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a $1.04 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.72%. Intuit’s payout ratio is presently 40.39%.

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.