Cyndeo Wealth Partners LLC Has $4.31 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Cyndeo Wealth Partners LLC raised its position in Intuit Inc. (NASDAQ:INTU) by 3.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 6,862 shares of the software maker’s stock after acquiring an additional 244 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Intuit were worth $4,313,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its stake in Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after purchasing an additional 221,885 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Intuit by 1.4% in the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after buying an additional 80,463 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Intuit by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after buying an additional 107,482 shares during the last quarter. Legal & General Group Plc increased its position in shares of Intuit by 1.0% during the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after acquiring an additional 23,995 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Intuit by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock worth $1,428,790,000 after acquiring an additional 87,517 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on INTU shares. Morgan Stanley boosted their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Oppenheimer upped their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Jefferies Financial Group raised their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Scotiabank started coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. Finally, Piper Sandler reiterated an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Insider Buying and Selling

In other news, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the transaction, the executive vice president now owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This trade represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock worth $188,992,187 over the last ninety days. 2.68% of the stock is owned by corporate insiders.

Intuit Trading Down 0.1 %

Shares of INTU stock opened at $597.95 on Friday. The company’s fifty day simple moving average is $636.69 and its two-hundred day simple moving average is $635.10. The stock has a market capitalization of $167.38 billion, a price-to-earnings ratio of 58.05, a PEG ratio of 3.01 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 Inc. has a 1 year low of $557.29 and a 1 year high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the business posted $1.14 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. As a group, analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.70%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio is 40.39%.

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.