Signal Advisors Wealth LLC Buys 27 Shares of Intuit Inc. (NASDAQ:INTU)

Signal Advisors Wealth LLC increased its stake in Intuit Inc. (NASDAQ:INTU) by 3.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 727 shares of the software maker’s stock after buying an additional 27 shares during the quarter. Signal Advisors Wealth LLC’s holdings in Intuit were worth $446,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in INTU. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Intuit by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock valued at $107,854,000 after acquiring an additional 3,648 shares during the period. Capitolis Liquid Global Markets LLC bought a new position in Intuit during the fourth quarter worth about $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Intuit during the fourth quarter worth approximately $237,244,000. V Square Quantitative Management LLC raised its stake in Intuit by 7.0% in the fourth quarter. V Square Quantitative Management LLC now owns 7,671 shares of the software maker’s stock valued at $4,821,000 after buying an additional 501 shares during the period. Finally, Alberta Investment Management Corp acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $10,757,000. 83.66% of the stock is owned by institutional investors.

Insider Activity

In other Intuit news, EVP Alex G. Balazs sold 1,459 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total value of $1,124,597.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 72,442 shares of Intuit stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the completion of the sale, the insider now directly owns 6,063,495 shares of the company’s stock, valued at approximately $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 225,592 shares of company stock valued at $165,325,437. 2.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and set a $742.00 price target (up previously from $642.00) on shares of Intuit in a report on Friday, May 23rd. Piper Sandler reissued an “overweight” rating and issued a $825.00 price objective (up from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Wells Fargo & Company reaffirmed an “overweight” rating and set a $825.00 target price (up previously from $775.00) on shares of Intuit in a report on Friday, May 23rd. Stifel Nicolaus increased their price target on shares of Intuit from $725.00 to $850.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Finally, Evercore ISI raised their price objective on shares of Intuit from $685.00 to $785.00 and gave the stock an “outperform” rating in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $785.33.

Intuit Stock Performance

NASDAQ:INTU opened at $771.58 on Friday. The stock’s 50-day moving average is $646.24 and its 200-day moving average is $626.21. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $773.45. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $215.23 billion, a P/E ratio of 74.91, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the company earned $9.88 EPS. Intuit’s revenue for the quarter was up 15.1% compared to the same quarter last year. Equities research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit’s dividend payout ratio is currently 33.77%.

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.