VCI Wealth Management LLC Buys New Position in Intuit Inc. (NASDAQ:INTU)

VCI Wealth Management LLC bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the 4th quarter, HoldingsChannel reports. The firm bought 1,242 shares of the software maker’s stock, valued at approximately $776,000.

Several other hedge funds have also modified their holdings of INTU. NewSquare Capital LLC acquired a new stake in Intuit during the 3rd quarter valued at approximately $25,000. Cape Investment Advisory Inc. acquired a new stake in Intuit during the 3rd quarter valued at approximately $26,000. MCF Advisors LLC grew its stake in Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after purchasing an additional 25 shares in the last quarter. Steward Financial Group LLC grew its stake in Intuit by 50.0% during the 3rd quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock valued at $30,000 after purchasing an additional 20 shares in the last quarter. Finally, Aspire Private Capital LLC grew its stake in Intuit by 144.4% during the 3rd quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock valued at $34,000 after purchasing an additional 39 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intuit

In other news, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the transaction, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of Intuit 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 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. Corporate insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Intuit stock traded down $9.10 during mid-day trading on Thursday, hitting $626.39. 1,241,615 shares of the company’s stock traded hands, compared to its average volume of 1,250,544. The firm has a 50 day moving average price of $641.40 and a 200 day moving average price of $601.86. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The company has a market cap of $175.39 billion, a PE ratio of 63.34, a price-to-earnings-growth ratio of 3.84 and a beta of 1.21. Intuit Inc. has a one year low of $400.22 and a one year high of $671.01.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the business earned $1.05 EPS. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, equities analysts forecast that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Dividend Announcement

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

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 21st. KeyCorp lifted their target price on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Piper Sandler lifted their target price on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. lifted their target price on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Finally, Oppenheimer raised their price target on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $650.23.

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.