New Wave Wealth Advisors LLC Buys New Shares in Intuit Inc. (NASDAQ:INTU)

New Wave Wealth Advisors LLC purchased a new position in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 204 shares of the software maker’s stock, valued at approximately $128,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd bought a new stake in Intuit during the 4th quarter valued at $25,000. Northwest Investment Counselors LLC purchased a new position in Intuit during the 3rd quarter valued at about $27,000. Sugar Maple Asset Management LLC bought a new position in Intuit during the 4th quarter valued at approximately $29,000. Denver PWM LLC purchased a new stake in Intuit in the 3rd quarter worth approximately $32,000. Finally, Dunhill Financial LLC lifted its holdings in Intuit by 110.3% in the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after buying an additional 32 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on INTU. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a report on Wednesday, January 15th. Jefferies Financial Group upped their price objective on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Oppenheimer lifted their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Stifel Nicolaus reduced their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, Piper Sandler restated an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average target price of $726.53.

Intuit Stock Performance

Shares of Intuit stock opened at $601.51 on Friday. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The firm’s 50-day moving average is $631.72 and its 200 day moving average is $634.06. The stock has a market cap of $168.37 billion, a price-to-earnings ratio of 58.40, a PEG ratio of 2.92 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU) last issued its earnings results 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 firm had revenue of $3.28 billion for 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 business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 earnings per share. Sell-side analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were paid a $1.04 dividend. This represents a $4.16 annualized dividend 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%.

Insider Transactions at Intuit

In other Intuit news, CFO Sandeep Aujla sold 109 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the sale, the chief financial officer now directly owns 1,944 shares in the company, valued at approximately $1,221,804. The trade was a 5.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock worth $188,992,187 over the last quarter. 2.68% of the stock is currently owned by insiders.

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.