Wealthcare Advisory Partners LLC Has $230,000 Position in Intuit Inc. (NASDAQ:INTU)

Posted by Defense World Staff on Jun 12th, 2023

Intuit logo Wealthcare Advisory Partners LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU – Get Rating) by 5.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 592 shares of the software maker’s stock after acquiring an additional 32 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Intuit were worth $230,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Magellan Asset Management Ltd lifted its holdings in Intuit by 184,265.0% during the 3rd quarter. Magellan Asset Management Ltd now owns 1,279,493 shares of the software maker’s stock valued at $495,573,000 after purchasing an additional 1,278,799 shares during the last quarter. Capital World Investors lifted its holdings in Intuit by 140.3% during the 1st quarter. Capital World Investors now owns 859,308 shares of the software maker’s stock valued at $413,190,000 after purchasing an additional 501,656 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Intuit by 23.7% in the fourth quarter. Fisher Asset Management LLC now owns 2,412,769 shares of the software maker’s stock worth $939,098,000 after acquiring an additional 462,468 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Intuit by 1.2% in the third quarter. Vanguard Group Inc. now owns 24,634,094 shares of the software maker’s stock worth $9,541,277,000 after acquiring an additional 281,362 shares during the last quarter. Finally, Brown Advisory Inc. raised its stake in shares of Intuit by 6.6% in the third quarter. Brown Advisory Inc. now owns 3,518,173 shares of the software maker’s stock worth $1,362,659,000 after acquiring an additional 217,504 shares during the last quarter. 82.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on INTU shares. Atlantic Securities started coverage on shares of Intuit in a research note on Monday, April 24th. They issued an “overweight” rating and a $530.00 target price for the company. BMO Capital Markets boosted their target price on shares of Intuit from $462.00 to $485.00 in a research note on Wednesday, May 24th. Barclays boosted their target price on shares of Intuit from $465.00 to $495.00 in a research note on Monday, May 15th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Friday, May 26th. Finally, Mizuho lowered their price target on shares of Intuit from $650.00 to $550.00 in a research report on Tuesday, May 16th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $491.35.

Insiders Place Their Bets

In other Intuit news, CFO Michelle M. Clatterbuck sold 706 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $418.40, for a total transaction of $295,390.40. Following the sale, the chief financial officer now directly owns 1,350 shares of the company’s stock, valued at $564,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intuit news, CFO Michelle M. Clatterbuck sold 706 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $418.40, for a total transaction of $295,390.40. Following the sale, the chief financial officer now directly owns 1,350 shares of the company’s stock, valued at $564,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James Alexander Chriss sold 563 shares of the stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $418.40, for a total transaction of $235,559.20. Following the completion of the transaction, the executive vice president now directly owns 409 shares in the company, valued at $171,125.60. The disclosure for this sale can be found here. Insiders own 3.18% of the company’s stock.

Intuit Stock Up 2.3 %

Shares of INTU stock traded up $10.14 during trading on Monday, reaching $441.69. The company’s stock had a trading volume of 714,442 shares, compared to its average volume of 1,711,593. The business has a fifty day moving average price of $433.40 and a 200-day moving average price of $415.27. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.35. The company has a market cap of $123.70 billion, a price-to-earnings ratio of 55.79, a price-to-earnings-growth ratio of 2.94 and a beta of 1.18. Intuit Inc. has a one year low of $352.63 and a one year high of $490.83.

Intuit (NASDAQ:INTU – Get Rating) last announced its quarterly earnings data on Tuesday, May 23rd. The software maker reported $8.92 EPS for the quarter, topping analysts’ consensus estimates of $7.30 by $1.62. The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.09 billion. Intuit had a net margin of 15.91% and a return on equity of 16.50%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.70 earnings per share. Analysts anticipate that Intuit Inc. will post 9.64 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 18th. Stockholders of record on Monday, July 10th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, July 7th. Intuit’s dividend payout ratio is presently 39.39%.

Intuit Profile

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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 ProConnect.