Moss Adams Wealth Advisors LLC Increases Stock Position in Intuit Inc. (NASDAQ:INTU)

Moss Adams Wealth Advisors LLC lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 1.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,456 shares of the software maker’s stock after acquiring an additional 45 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Intuit were worth $1,544,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new position in Intuit during the third quarter valued at $27,000. Denver PWM LLC bought a new position in shares of Intuit during the third quarter valued at $32,000. Dunhill Financial LLC raised its position in shares of 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 purchasing an additional 32 shares during the last quarter. Groupama Asset Managment boosted its stake in Intuit by 10.6% in the 3rd quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock worth $47,000 after purchasing an additional 720 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new stake in Intuit during the 2nd quarter valued at about $49,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $604.13 on Friday. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The firm has a market capitalization of $169.11 billion, a price-to-earnings ratio of 58.65, a price-to-earnings-growth ratio of 3.07 and a beta of 1.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average of $646.09 and a 200 day moving average of $637.06.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion during 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 company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.14 EPS. On average, research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently disclosed 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 (DPR) is currently 40.39%.

Insider Activity

In other news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sasan K. Goodarzi sold 26,562 shares of Intuit stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the transaction, the chief executive officer now owns 37,869 shares in the company, valued at approximately $23,701,828.41. This trade represents a 41.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock valued at $188,992,187 in the last ninety days. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the subject of several recent analyst reports. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a report on Wednesday. Stifel Nicolaus reduced their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Barclays lowered their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Finally, Piper Sandler restated an “overweight” rating and issued a $765.00 price target on shares of Intuit in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $726.53.

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.