Ewa LLC Grows Position in Intuit Inc. (NASDAQ:INTU)

Ewa LLC raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 644 shares of the software maker’s stock after purchasing an additional 24 shares during the quarter. Ewa LLC’s holdings in Intuit were worth $412,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. MCF Advisors LLC grew its holdings in shares of Intuit by 119.0% during the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after buying an additional 25 shares in the last quarter. NewSquare Capital LLC purchased a new stake in shares of Intuit during the third quarter worth approximately $25,000. Cape Investment Advisory Inc. purchased a new stake in shares of Intuit during the third quarter worth approximately $26,000. Steward Financial Group LLC increased its stake in shares of Intuit by 50.0% during the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after buying an additional 20 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new position in Intuit in the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Shares of INTU traded down $0.48 during trading hours on Monday, reaching $636.07. The stock had a trading volume of 474,077 shares, compared to its average volume of 1,240,108. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The stock has a market capitalization of $178.10 billion, a PE ratio of 65.72, a PEG ratio of 3.88 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The company’s 50-day moving average is $640.26 and its two-hundred day moving average is $603.61.

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

Intuit Dividend Announcement

The business also recently declared 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. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. Intuit’s dividend payout ratio (DPR) is currently 36.73%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on INTU shares. Piper Sandler lifted their price objective on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a research note on Tuesday, March 26th. Barclays boosted their price target on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Stifel Nicolaus boosted their price target on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Finally, Susquehanna lifted their price objective on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $650.23.

Insider Buying and Selling at Intuit

In other Intuit 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intuit news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction 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. Insiders own 2.90% of the company’s stock.

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.