Highline Wealth Partners LLC Acquires Shares of 145 Intuit Inc. (NASDAQ:INTU)

Highline Wealth Partners LLC acquired a new position in Intuit Inc. (NASDAQ:INTU) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 145 shares of the software maker’s stock, valued at approximately $90,000.

A number of other hedge funds have also recently modified their holdings of INTU. Trajan Wealth LLC increased its stake in Intuit by 12.3% in the third quarter. Trajan Wealth LLC now owns 25,514 shares of the software maker’s stock worth $15,844,000 after purchasing an additional 2,787 shares during the period. Mutual Advisors LLC increased its stake in Intuit by 21.5% in the 3rd quarter. Mutual Advisors LLC now owns 2,690 shares of the software maker’s stock worth $1,625,000 after buying an additional 476 shares during the period. Childress Capital Advisors LLC boosted its position in Intuit by 3.2% in the 3rd quarter. Childress Capital Advisors LLC now owns 1,137 shares of the software maker’s stock valued at $706,000 after buying an additional 35 shares during the period. Fidelis Capital Partners LLC grew its stake in Intuit by 9.2% in the 3rd quarter. Fidelis Capital Partners LLC now owns 1,494 shares of the software maker’s stock worth $899,000 after acquiring an additional 126 shares in the last quarter. Finally, Strategic Blueprint LLC raised its stake in shares of Intuit by 1.9% during the third quarter. Strategic Blueprint LLC now owns 1,167 shares of the software maker’s stock valued at $725,000 after acquiring an additional 22 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the topic of several research reports. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Piper Sandler reiterated an “overweight” rating and set a $768.00 target price on shares of Intuit in a report on Friday, September 27th. Bank of America boosted their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Finally, BMO Capital Markets lifted their price target on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Insider Transactions at Intuit

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Intuit news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the transaction, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the transaction, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at $33,427,129.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 over the last quarter. 2.90% of the stock is currently owned by insiders.

Intuit Price Performance

NASDAQ INTU opened at $623.70 on Wednesday. The stock’s fifty day moving average price is $624.96 and its 200 day moving average price is $626.52. Intuit Inc. has a 1 year low of $481.79 and a 1 year high of $676.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $174.35 billion, a price-to-earnings ratio of 57.54, a PEG ratio of 2.98 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company’s revenue was up 17.4% compared to the same quarter last year. As a group, equities research analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were paid a dividend of $1.04 per share. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is presently 38.38%.

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.