Angeles Wealth Management LLC Has $278,000 Holdings in Intuit Inc. (NASDAQ:INTU)

Angeles Wealth Management LLC raised its stake in Intuit Inc. (NASDAQ:INTU) by 13.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 443 shares of the software maker’s stock after purchasing an additional 52 shares during the period. Angeles Wealth Management LLC’s holdings in Intuit were worth $278,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wealthstar Advisors LLC bought a new stake in shares of Intuit in the fourth quarter valued at about $581,000. Martin Capital Advisors LLP lifted its position in shares of Intuit by 2.3% in the 4th quarter. Martin Capital Advisors LLP now owns 5,611 shares of the software maker’s stock worth $3,527,000 after acquiring an additional 125 shares during the period. 17 Capital Partners LLC grew its holdings in shares of Intuit by 4.2% during the 4th quarter. 17 Capital Partners LLC now owns 739 shares of the software maker’s stock worth $464,000 after purchasing an additional 30 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Intuit during the fourth quarter valued at approximately $228,000. Finally, Kestra Private Wealth Services LLC raised its stake in shares of Intuit by 62.8% in the fourth quarter. Kestra Private Wealth Services LLC now owns 7,409 shares of the software maker’s stock valued at $4,657,000 after purchasing an additional 2,858 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the transaction, the executive vice president now directly owns 30,010 shares in the company, valued at $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now directly owns 489 shares of the company’s stock, valued at $325,664.22. This represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is currently owned by insiders.

Intuit Price Performance

INTU opened at $586.84 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company’s 50 day simple moving average is $626.20 and its 200-day simple moving average is $631.66. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The stock has a market capitalization of $164.27 billion, a P/E ratio of 56.97, 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 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $1.14 EPS. Sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.71%. Intuit’s payout ratio is presently 40.39%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on INTU shares. Barclays decreased their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Oppenheimer upped their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Morgan Stanley lifted their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Finally, Stifel Nicolaus dropped their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

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.