Darwin Wealth Management LLC Invests $2.57 Million in Intuit Inc. (NASDAQ:INTU)

Darwin Wealth Management LLC purchased a new stake in Intuit Inc. (NASDAQ:INTU) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,143 shares of the software maker’s stock, valued at approximately $2,573,000.

Other large investors also recently bought and sold shares of the company. Fortitude Family Office LLC raised its stake in shares of Intuit by 2.8% during the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after buying an additional 16 shares during the period. WASHINGTON TRUST Co raised its position in Intuit by 10.5% during the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after acquiring an additional 16 shares during the period. Gemmer Asset Management LLC lifted its holdings in Intuit by 3.7% during the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after purchasing an additional 16 shares in the last quarter. PFG Investments LLC grew its position in shares of Intuit by 1.1% in the second quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock valued at $1,024,000 after purchasing an additional 17 shares during the period. Finally, Plancorp LLC increased its stake in shares of Intuit by 2.0% during the second quarter. Plancorp LLC now owns 881 shares of the software maker’s stock worth $579,000 after purchasing an additional 17 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Jefferies Financial Group lifted their price target on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Bank of America boosted their price target on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Piper Sandler restated an “overweight” rating and issued a $768.00 price objective on shares of Intuit in a report on Friday, September 27th. Finally, Stifel Nicolaus upped their target price on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $737.06.

Intuit Stock Up 0.9 %

INTU stock opened at $650.00 on Wednesday. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The firm has a market cap of $182.19 billion, a PE ratio of 61.64, a PEG ratio of 3.36 and a beta of 1.25. The firm’s 50 day moving average price is $634.32 and its 200-day moving average price is $630.75. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 earnings per share. On average, equities research analysts anticipate that Intuit Inc. will post 14.05 EPS for the current year.

Insider Buying and Selling

In other news, Director Eve B. Burton sold 2,988 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. The trade was a 30.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,297 shares of company stock valued at $35,220,046. Corporate insiders own 2.90% of the company’s stock.

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.