SteelPeak Wealth LLC Boosts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

SteelPeak Wealth LLC lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 35,621 shares of the software maker’s stock after acquiring an additional 1,230 shares during the quarter. Intuit accounts for about 1.2% of SteelPeak Wealth LLC’s investment portfolio, making the stock its 21st largest holding. SteelPeak Wealth LLC’s holdings in Intuit were worth $23,154,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Intuit during the fourth quarter worth $25,000. MCF Advisors LLC lifted its holdings in Intuit by 119.0% during 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 in the last quarter. Wetzel Investment Advisors Inc. bought a new position in Intuit in the 4th quarter worth about $38,000. Sachetta LLC purchased a new position in Intuit during the 4th quarter valued at about $39,000. Finally, Webster Bank N. A. purchased a new position in Intuit during the 4th quarter valued at about $41,000. 83.66% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 27,309 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $593.16, for a total transaction of $16,198,606.44. Following the completion of the transaction, the insider now owns 6,524,412 shares in the company, valued at $3,870,020,221.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Scott D. Cook sold 27,309 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the completion of the transaction, the insider now directly owns 6,524,412 shares of the company’s stock, valued at $3,870,020,221.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark P. Notarainni sold 465 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $281,129.70. Following the transaction, the executive vice president now owns 869 shares in the company, valued at approximately $525,380.02. The disclosure for this sale can be found here. Insiders have sold 193,937 shares of company stock valued at $113,123,232 over the last ninety days. 2.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on INTU shares. Erste Group Bank restated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Morgan Stanley boosted their price target on shares of Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. BMO Capital Markets reiterated an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Bank of America reduced their target price on Intuit from $760.00 to $730.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Finally, Wells Fargo & Company raised their price target on Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a report on Tuesday, May 21st. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $683.91.

Intuit Trading Up 0.9 %

Shares of NASDAQ INTU traded up $5.77 during midday trading on Friday, reaching $657.21. The company had a trading volume of 1,753,982 shares, compared to its average volume of 1,628,761. The firm’s fifty day moving average price is $618.61 and its 200-day moving average price is $628.28. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. Intuit Inc. has a one year low of $444.19 and a one year high of $676.62. The stock has a market cap of $183.72 billion, a PE ratio of 60.63, a price-to-earnings-growth ratio of 3.76 and a beta of 1.21.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The firm had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.65 billion. During the same quarter last year, the business earned $7.80 earnings per share. The business’s revenue was up 11.9% on a year-over-year basis. On average, equities research analysts anticipate that Intuit Inc. will post 11.72 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.90 per share. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.55%. Intuit’s dividend payout ratio is currently 33.21%.

Intuit 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.