Beam Wealth Advisors Inc. Invests $232,000 in Intuit Inc. (NASDAQ:INTU)

Beam Wealth Advisors Inc. purchased a new position in shares of Intuit Inc. (NASDAQ:INTU) during the fourth quarter, HoldingsChannel reports. The firm purchased 371 shares of the software maker’s stock, valued at approximately $232,000.

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

Intuit Price Performance

INTU traded up $3.60 during trading hours on Wednesday, hitting $615.09. The company’s stock had a trading volume of 520,888 shares, compared to its average volume of 1,241,715. The business’s 50-day moving average price is $645.48 and its 200-day moving average price is $598.28. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The stock has a market cap of $172.23 billion, a price-to-earnings ratio of 62.63, a P/E/G ratio of 3.73 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.

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, topping the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the previous year, the business posted $1.05 earnings per share. Intuit’s quarterly revenue was up 11.3% on a year-over-year basis. Sell-side analysts expect that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s payout ratio is currently 36.73%.

Insider Buying and Selling

In related news, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at $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 ninety days. Company insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on INTU shares. Evercore ISI upped their target price on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Mizuho increased their price target on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Wells Fargo & Company increased their price target on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Barclays increased their price target on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Finally, Susquehanna increased their target price on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $645.00.

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.