Barlow Wealth Partners Inc. Purchases New Position in Intuit Inc. (NASDAQ:INTU)

Barlow Wealth Partners Inc. bought a new position in Intuit Inc. (NASDAQ:INTU) in the 4th quarter, Holdings Channel.com reports. The firm bought 25,045 shares of the software maker’s stock, valued at approximately $15,654,000. Intuit makes up 2.2% of Barlow Wealth Partners Inc.’s portfolio, making the stock its 17th biggest holding.

Other hedge funds have also modified their holdings of the company. Parnassus Investments LLC raised its holdings in Intuit by 42,268.5% during the third quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock worth $312,161,000 after purchasing an additional 609,512 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Intuit by 61.5% in the 3rd 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 last quarter. International Assets Investment Management LLC lifted its stake in Intuit by 60,534.9% during the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after purchasing an additional 472,172 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Intuit by 9.5% in the 4th quarter. Fisher Asset Management LLC now owns 3,114,957 shares of the software maker’s stock worth $1,946,943,000 after acquiring an additional 270,414 shares during the last quarter. Finally, FMR LLC boosted its stake in Intuit by 5.0% in the 3rd quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock worth $2,879,982,000 after purchasing an additional 266,803 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Intuit news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is currently owned by company insiders.

Intuit Trading Down 1.4 %

Shares of NASDAQ INTU traded down $8.72 during midday trading on Wednesday, hitting $632.43. The stock had a trading volume of 889,523 shares, compared to its average volume of 1,228,042. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The firm has a market cap of $177.08 billion, a P/E ratio of 64.47, a price-to-earnings-growth ratio of 3.83 and a beta of 1.22. The company’s 50-day simple moving average is $636.41 and its 200 day simple moving average is $608.45.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the prior year, the company posted $1.05 EPS. The company’s revenue was up 11.3% compared to the same quarter last year. Research analysts anticipate that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on INTU shares. Piper Sandler lifted their price objective on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Stifel Nicolaus increased their target price on Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Barclays upped their price target on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Oppenheimer upped their price target on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $650.23.

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.