Power Wealth Management LLC Invests $474,000 in Intuit Inc. (NASDAQ:INTU)

Power Wealth Management LLC acquired a new position in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 759 shares of the software maker’s stock, valued at approximately $474,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Brookstone Capital Management increased its holdings in Intuit by 14.3% in the third quarter. Brookstone Capital Management now owns 2,273 shares of the software maker’s stock worth $1,185,000 after purchasing an additional 285 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Intuit by 35.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 27,946 shares of the software maker’s stock valued at $14,279,000 after acquiring an additional 7,265 shares during the period. Capital Advisors Inc. OK bought a new position in Intuit during the third quarter worth $223,000. Stratos Wealth Partners LTD. grew its holdings in Intuit by 7.5% in the third quarter. Stratos Wealth Partners LTD. now owns 8,383 shares of the software maker’s stock worth $4,283,000 after purchasing an additional 588 shares during the period. Finally, Stratos Wealth Advisors LLC increased its stake in Intuit by 0.9% in the third quarter. Stratos Wealth Advisors LLC now owns 2,240 shares of the software maker’s stock valued at $1,145,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling

In related news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of the firm’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 completion of the sale, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,717 shares of company stock valued at $3,117,156. Company insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Oppenheimer upped their target price on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Wells Fargo & Company lifted their price target on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. Finally, Barclays lifted their price objective on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $650.23.

Intuit Stock Performance

INTU traded up $15.23 on Friday, hitting $629.27. The company’s stock had a trading volume of 1,109,512 shares, compared to its average volume of 1,209,705. The company’s 50 day simple moving average is $637.56 and its 200-day simple moving average is $605.68. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The firm has a market cap of $176.20 billion, a P/E ratio of 64.21, a price-to-earnings-growth ratio of 3.83 and a beta of 1.22.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period last year, the company earned $1.05 earnings per share. Analysts forecast that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were paid a dividend of $0.90 per share. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.57%. Intuit’s dividend payout ratio is currently 36.73%.

Intuit Company 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.