Buck Wealth Strategies LLC Purchases 2,532 Shares of Intuit Inc. (NASDAQ:INTU)

Buck Wealth Strategies LLC grew its position in Intuit Inc. (NASDAQ:INTUFree Report) by 27.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,892 shares of the software maker’s stock after purchasing an additional 2,532 shares during the period. Intuit accounts for 2.8% of Buck Wealth Strategies LLC’s investment portfolio, making the stock its 16th biggest holding. Buck Wealth Strategies LLC’s holdings in Intuit were worth $7,433,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in INTU. Norges Bank bought a new stake in Intuit during the 4th quarter worth about $1,173,468,000. Moneta Group Investment Advisors LLC boosted its stake in Intuit by 118,345.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,088,194 shares of the software maker’s stock valued at $812,767,000 after acquiring an additional 2,086,431 shares during the last quarter. Morgan Stanley grew its holdings in Intuit by 42.5% during the 4th quarter. Morgan Stanley now owns 3,444,913 shares of the software maker’s stock worth $1,340,830,000 after acquiring an additional 1,027,752 shares during the period. Parnassus Investments LLC increased its holdings in shares of Intuit by 42,268.5% in the third quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock worth $312,161,000 after acquiring an additional 609,512 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Intuit by 61.5% during the third quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock worth $690,244,000 after purchasing an additional 514,259 shares during the period. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on INTU. Barclays increased their target price on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Evercore ISI increased their target price on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. lifted their target price on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Stifel Nicolaus increased their price target on Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $700.00 price target on shares of Intuit in a research report on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $645.00.

Read Our Latest Stock Report on Intuit

Intuit Stock Performance

NASDAQ INTU traded down $13.25 during trading on Tuesday, reaching $626.59. The company’s stock had a trading volume of 2,119,221 shares, compared to its average volume of 1,246,643. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The firm has a market capitalization of $175.45 billion, a price-to-earnings ratio of 63.94, a price-to-earnings-growth ratio of 3.96 and a beta of 1.21. The firm has a 50 day moving average price of $648.25 and a 200 day moving average price of $589.72.

Intuit (NASDAQ:INTUGet Free Report) last issued its earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating the consensus estimate of $2.30 by $0.33. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 EPS. As a group, equities analysts anticipate that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.57%. Intuit’s dividend payout ratio is presently 36.73%.

Insider Activity

In related news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the sale, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,260 shares of company stock valued at $20,667,475. Insiders own 2.90% of the company’s stock.

About Intuit

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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