2,102 Shares in Intuit Inc. (NASDAQ:INTU) Acquired by FSA Wealth Management LLC

FSA Wealth Management LLC bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,102 shares of the software maker’s stock, valued at approximately $1,305,000. Intuit makes up approximately 0.5% of FSA Wealth Management LLC’s investment portfolio, making the stock its 17th largest position.

Several other hedge funds have also made changes to their positions in INTU. LGT Financial Advisors LLC bought a new stake in shares of Intuit in the second quarter valued at about $25,000. Cultivar Capital Inc. bought a new stake in shares of Intuit in the 2nd quarter valued at about $26,000. Fairway Wealth LLC purchased a new stake in shares of Intuit in the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit during the third quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC purchased a new position in Intuit during the second quarter valued at approximately $35,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the sale, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This represents a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the sale, the chief financial officer now directly owns 4,451 shares in the company, valued at $2,676,430.81. The trade was a 14.83 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,265 shares of company stock valued at $83,336,625. 2.90% of the stock is owned by insiders.

Intuit Stock Up 0.9 %

Shares of INTU stock opened at $641.73 on Friday. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The firm has a market capitalization of $179.71 billion, a PE ratio of 62.30, a P/E/G ratio of 3.17 and a beta of 1.25. 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 stock’s 50-day simple moving average is $634.10 and its 200-day simple moving average is $631.43.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the prior year, the firm earned $1.14 earnings per share. Intuit’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities analysts expect that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a yield of 0.65%. Intuit’s dividend payout ratio is presently 40.39%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on INTU shares. Oppenheimer increased their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Susquehanna restated a “positive” rating and set a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. Stifel Nicolaus reduced their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Piper Sandler decreased their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Finally, Barclays reduced their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

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.