Sound Income Strategies LLC Has $135,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Sound Income Strategies LLC raised its holdings in Intuit Inc. (NASDAQ:INTU – Get Rating) by 3,045.5% in the 4th quarter, HoldingsChannel reports. The fund owned 346 shares of the software maker’s stock after acquiring an additional 335 shares during the period. Sound Income Strategies LLC’s holdings in Intuit were worth $135,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Altshuler Shaham Ltd acquired a new stake in Intuit in the third quarter valued at $25,000. SRS Capital Advisors Inc. increased its stake in shares of Intuit by 81.0% in the second quarter. SRS Capital Advisors Inc. now owns 76 shares of the software maker’s stock valued at $29,000 after buying an additional 34 shares during the period. MinichMacGregor Wealth Management LLC acquired a new stake in shares of Intuit in the fourth quarter valued at about $42,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Intuit during the third quarter worth about $49,000. Finally, Eagle Bay Advisors LLC acquired a new position in shares of Intuit in the second quarter worth approximately $52,000. Institutional investors own 82.65% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $413.69 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.42. The firm has a fifty day simple moving average of $408.58 and a two-hundred day simple moving average of $404.01. Intuit Inc. has a 12 month low of $339.36 and a 12 month high of $507.71. The firm has a market capitalization of $116.06 billion, a PE ratio of 60.66, a price-to-earnings-growth ratio of 3.12 and a beta of 1.16.

Intuit (NASDAQ:INTU – Get Rating) last posted its earnings results on Thursday, February 23rd. The software maker reported $2.20 EPS for the quarter, topping the consensus estimate of $1.44 by $0.76. Intuit had a net margin of 14.22% and a return on equity of 14.89%. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same period in the previous year, the firm posted $0.67 earnings per share. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. Analysts forecast that Intuit Inc. will post 9.01 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 18th. Stockholders of record on Monday, April 10th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Thursday, April 6th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 0.75%. Intuit’s dividend payout ratio is presently 45.75%.

Insider Activity at Intuit

In related news, EVP James Alexander Chriss sold 597 shares of the stock in a transaction on Monday, January 9th. The stock was sold at an average price of $400.00, for a total value of $238,800.00. Following the completion of the sale, the executive vice president now directly owns 344 shares of the company’s stock, valued at approximately $137,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP James Alexander Chriss sold 597 shares of the business’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $400.00, for a total transaction of $238,800.00. Following the transaction, the executive vice president now directly owns 344 shares in the company, valued at $137,600. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eve B. Burton sold 4,539 shares of the company’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $412.57, for a total transaction of $1,872,655.23. The disclosure for this sale can be found here. Insiders have sold a total of 7,925 shares of company stock valued at $3,258,123 over the last 90 days. Insiders own 3.18% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. UBS Group started coverage on shares of Intuit in a report on Wednesday. They set a “neutral” rating and a $430.00 price target for the company. Deutsche Bank Aktiengesellschaft cut their price target on shares of Intuit from $560.00 to $525.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. KeyCorp lifted their price objective on Intuit from $425.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday, January 20th. Morgan Stanley dropped their price objective on Intuit from $550.00 to $520.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 22nd. Finally, BMO Capital Markets raised their target price on Intuit from $448.00 to $462.00 and gave the stock an “outperform” rating in a research note on Friday, February 24th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $483.53.

Intuit Company Profile

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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.