Unique Wealth Strategies LLC Makes New $1.15 Million Investment in Intuit Inc. (NASDAQ:INTU)

Unique Wealth Strategies LLC purchased a new stake in Intuit Inc. (NASDAQ:INTU) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 1,843 shares of the software maker’s stock, valued at approximately $1,152,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in Intuit during the third quarter worth $51,000. V Square Quantitative Management LLC increased its position in shares of Intuit by 18.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock worth $1,558,000 after purchasing an additional 482 shares during the last quarter. Compagnie Lombard Odier SCmA raised its holdings in Intuit by 27.5% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 8,800 shares of the software maker’s stock valued at $4,496,000 after buying an additional 1,900 shares during the period. Glenmede Trust Co. NA lifted its position in Intuit by 12.7% in the third quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after buying an additional 2,074 shares during the last quarter. Finally, Hixon Zuercher LLC purchased a new position in Intuit during the fourth quarter worth about $1,292,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Susquehanna boosted their price target on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. raised their price target on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Barclays boosted their price objective on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Finally, Evercore ISI raised their target price on Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $650.23.

Intuit Stock Up 1.6 %

NASDAQ:INTU traded up $10.16 during trading hours on Friday, hitting $636.55. The company’s stock had a trading volume of 1,192,496 shares, compared to its average volume of 1,208,945. The stock has a market capitalization of $178.23 billion, a P/E ratio of 64.95, a price-to-earnings-growth ratio of 3.81 and a beta of 1.21. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average of $640.26 and a 200-day moving average of $602.74. Intuit Inc. has a 52-week low of $400.22 and a 52-week high of $671.01.

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

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were given a dividend of $0.90 per share. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend 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 Intuit stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was 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 Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the transaction, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,717 shares of company stock worth $3,117,156. Corporate insiders own 2.90% of the company’s stock.

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.