Pacific Capital Wealth Advisors Inc. Invests $180,000 in Intuit Inc. (NASDAQ:INTU)

Pacific Capital Wealth Advisors Inc. bought a new stake in Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 288 shares of the software maker’s stock, valued at approximately $180,000.

Other hedge funds have also recently added to or reduced their stakes in the company. NewSquare Capital LLC bought a new stake in Intuit in the third quarter worth $25,000. DiNuzzo Private Wealth Inc. purchased a new stake in Intuit during the 4th quarter valued at about $25,000. Cape Investment Advisory Inc. bought a new position in Intuit during the 3rd quarter worth approximately $26,000. MCF Advisors LLC increased its stake in Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares during the period. Finally, Aspire Private Capital LLC lifted its position in Intuit by 144.4% in the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock valued at $34,000 after purchasing an additional 39 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 1.4 %

NASDAQ:INTU traded down $8.72 on Wednesday, reaching $632.43. 889,523 shares of the stock traded hands, compared to its average volume of 1,228,042. 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 company has a market capitalization of $177.08 billion, a price-to-earnings ratio of 64.53, a PEG ratio of 3.83 and a beta of 1.22. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The company’s fifty day simple moving average is $636.41 and its 200 day simple moving average is $608.45.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share 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 the consensus estimate of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.05 earnings per share. Equities analysts predict that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders 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 dividend payout ratio is currently 36.73%.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays upped their price objective on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Wells Fargo & Company boosted their price target on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. BMO Capital Markets reissued an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Finally, Oppenheimer raised their target price on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $650.23.

About Intuit

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.