Intuit Inc. (NASDAQ:INTU) Shares Acquired by SteelPeak Wealth LLC

SteelPeak Wealth LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,621 shares of the software maker’s stock after purchasing an additional 1,230 shares during the period. Intuit accounts for 1.2% of SteelPeak Wealth LLC’s investment portfolio, making the stock its 21st largest holding. SteelPeak Wealth LLC’s holdings in Intuit were worth $23,154,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Desjardins Global Asset Management Inc. boosted its holdings in shares of Intuit by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock valued at $738,000 after acquiring an additional 16 shares in the last quarter. JFS Wealth Advisors LLC lifted its position in Intuit by 1.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock valued at $978,000 after purchasing an additional 16 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Intuit by 3.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after purchasing an additional 16 shares in the last quarter. GAM Holding AG increased its position in Intuit by 0.3% during the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock worth $3,671,000 after purchasing an additional 17 shares during the period. Finally, Janiczek Wealth Management LLC raised its stake in shares of Intuit by 2.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after buying an additional 17 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $700.00 price objective on shares of Intuit in a report on Tuesday, March 26th. Stifel Nicolaus cut their price target on shares of Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a report on Friday, May 24th. Wells Fargo & Company boosted their price objective on shares of Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday, May 21st. KeyCorp increased their target price on shares of Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Finally, UBS Group boosted their price target on Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research note on Monday, May 20th. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $683.91.

Intuit Price Performance

Shares of NASDAQ:INTU traded up $5.77 during trading on Friday, reaching $657.21. The company had a trading volume of 1,753,982 shares, compared to its average volume of 1,628,761. Intuit Inc. has a twelve month low of $444.19 and a twelve month high of $676.62. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market capitalization of $183.72 billion, a PE ratio of 60.63, a price-to-earnings-growth ratio of 3.76 and a beta of 1.21. The firm’s fifty day moving average is $618.61 and its 200 day moving average is $628.28.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.65 billion. During the same quarter in the previous year, the business earned $7.80 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts forecast that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.55%. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the sale, the insider now owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the sale, the insider now owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark P. Notarainni sold 465 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the transaction, the executive vice president now directly owns 869 shares in the company, valued at $525,380.02. The disclosure for this sale can be found here. Insiders sold a total of 193,937 shares of company stock valued at $113,123,232 in the last three months. 2.90% of the stock is currently owned by corporate insiders.

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.