Beam Wealth Advisors Inc. Makes New $232,000 Investment in Intuit Inc. (NASDAQ:INTU)

Beam Wealth Advisors Inc. bought a new position in shares of Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 371 shares of the software maker’s stock, valued at approximately $232,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. TRUE Private Wealth Advisors grew its holdings in Intuit by 18.5% during the 4th quarter. TRUE Private Wealth Advisors now owns 1,189 shares of the software maker’s stock valued at $743,000 after buying an additional 186 shares during the last quarter. Duncker Streett & Co. Inc. lifted its stake in shares of Intuit by 4.2% during the 4th quarter. Duncker Streett & Co. Inc. now owns 10,523 shares of the software maker’s stock worth $6,577,000 after purchasing an additional 423 shares during the period. Tyche Wealth Partners LLC purchased a new position in shares of Intuit during the 4th quarter worth $498,000. Diversified Portfolios Inc. purchased a new position in shares of Intuit during the 4th quarter worth $205,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Intuit by 4.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 164,823 shares of the software maker’s stock worth $103,019,000 after purchasing an additional 6,747 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on INTU shares. Stifel Nicolaus increased their target price on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Piper Sandler raised their target price on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Wells Fargo & Company lifted their price target on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 21st. Evercore ISI lifted their price target on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Finally, Barclays boosted their price target 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 analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $645.00.

Insider Buying and Selling at Intuit

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

Intuit Trading Up 0.6 %

NASDAQ INTU traded up $3.60 during trading hours on Wednesday, hitting $615.09. The company’s stock had a trading volume of 520,888 shares, compared to its average volume of 1,241,715. The stock has a fifty day moving average of $645.48 and a 200 day moving average of $598.28. Intuit Inc. has a twelve month low of $400.22 and a twelve month high of $671.01. The firm has a market capitalization of $172.23 billion, a P/E ratio of 62.63, a PEG ratio of 3.73 and a beta of 1.21. 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 (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period last year, the firm posted $1.05 earnings per share. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. Equities research analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Tuesday, April 9th. Intuit’s payout ratio is 36.73%.

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.