Arkadios Wealth Advisors Acquires 55 Shares of Intuit Inc. (NASDAQ:INTU)

Arkadios Wealth Advisors increased its stake in Intuit Inc. (NASDAQ:INTU) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,998 shares of the software maker’s stock after purchasing an additional 55 shares during the quarter. Arkadios Wealth Advisors’ holdings in Intuit were worth $1,256,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of INTU. Intech Investment Management LLC increased its holdings in Intuit by 9.3% in the 2nd quarter. Intech Investment Management LLC now owns 5,030 shares of the software maker’s stock worth $3,306,000 after acquiring an additional 429 shares in the last quarter. AE Wealth Management LLC increased its stake in shares of Intuit by 57.0% in the second quarter. AE Wealth Management LLC now owns 8,726 shares of the software maker’s stock worth $5,735,000 after purchasing an additional 3,169 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Intuit by 12.8% during the 2nd quarter. Pacer Advisors Inc. now owns 41,621 shares of the software maker’s stock valued at $27,354,000 after purchasing an additional 4,730 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Intuit by 1.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 14,345 shares of the software maker’s stock valued at $9,427,000 after buying an additional 186 shares in the last quarter. Finally, Kowal Investment Group LLC bought a new position in Intuit in the 2nd quarter worth $248,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 1,300 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $626.42, for a total transaction of $814,346.00. Following the transaction, the chief financial officer now owns 644 shares in the company, valued at approximately $403,414.48. This trade represents a 66.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company’s stock.

Intuit Trading Down 0.5 %

Shares of INTU opened at $604.13 on Monday. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company’s fifty day simple moving average is $646.09 and its 200-day simple moving average is $636.93. The company has a market cap of $169.11 billion, a P/E ratio of 58.65, a P/E/G ratio of 3.07 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.14 earnings per share. As a group, analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio is currently 40.39%.

Wall Street Analyst Weigh In

INTU has been the topic of several research analyst reports. Oppenheimer boosted their price objective on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Scotiabank began coverage on Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target for the company. Piper Sandler reiterated an “overweight” rating and set a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. Royal Bank of Canada restated an “outperform” rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Finally, Jefferies Financial Group lifted their price target on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $726.53.

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.