Austin Private Wealth LLC Has $621,000 Position in Intuit Inc. (NASDAQ:INTU)

Austin Private Wealth LLC grew its stake in Intuit Inc. (NASDAQ:INTU) by 5.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 945 shares of the software maker’s stock after buying an additional 46 shares during the quarter. Austin Private Wealth LLC’s holdings in Intuit were worth $621,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Desjardins Global Asset Management Inc. boosted its holdings in Intuit by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after purchasing an additional 16 shares during the last quarter. JFS Wealth Advisors LLC raised its position in Intuit by 1.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock worth $978,000 after acquiring an additional 16 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Intuit by 3.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock worth $281,000 after acquiring an additional 16 shares in the last quarter. Fortitude Family Office LLC raised its position in Intuit by 2.8% during the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after acquiring an additional 16 shares in the last quarter. Finally, Janiczek Wealth Management LLC raised its position in Intuit by 2.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after acquiring an additional 17 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, EVP Mark P. Notarainni sold 965 shares of Intuit stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total transaction of $628,215.00. Following the completion of the sale, the executive vice president now owns 1,020 shares in the company, valued at approximately $664,020. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Mark P. Notarainni sold 965 shares of Intuit stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total value of $628,215.00. Following the transaction, the executive vice president now owns 1,020 shares of the company’s stock, valued at approximately $664,020. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark P. Notarainni sold 465 shares of the business’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 transaction of $281,129.70. Following the sale, the executive vice president now directly owns 869 shares in the company, valued at approximately $525,380.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,963 shares of company stock worth $114,442,445. 2.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on INTU. Wells Fargo & Company increased their price objective on shares of Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. Morgan Stanley upped their price target on shares of Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Royal Bank of Canada began coverage on shares of Intuit in a report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price target for the company. Piper Sandler reiterated an “overweight” rating and set a $760.00 price target on shares of Intuit in a report on Friday, July 12th. Finally, KeyCorp boosted their price objective on shares of Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $694.27.

Intuit Trading Up 0.7 %

Shares of INTU stock traded up $4.08 during mid-day trading on Friday, reaching $630.20. The stock had a trading volume of 802,793 shares, compared to its average volume of 1,328,678. The stock’s 50-day moving average price is $624.76 and its two-hundred day moving average price is $633.72. Intuit Inc. has a 52-week low of $473.56 and a 52-week high of $676.62. The firm has a market capitalization of $176.17 billion, a PE ratio of 58.14, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. The business had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.80 earnings per share. Equities analysts expect that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th were paid a $0.90 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. Intuit’s payout ratio is currently 33.21%.

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.