Relyea Zuckerberg Hanson LLC Purchases 61 Shares of Intuit Inc. (NASDAQ:INTU)

Relyea Zuckerberg Hanson LLC increased its position in Intuit Inc. (NASDAQ:INTU) by 9.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 709 shares of the software maker’s stock after purchasing an additional 61 shares during the quarter. Relyea Zuckerberg Hanson LLC’s holdings in Intuit were worth $446,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. One Capital Management LLC bought a new stake in Intuit in the second quarter valued at about $202,000. Mercer Global Advisors Inc. ADV boosted its holdings in Intuit by 49.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 41,265 shares of the software maker’s stock valued at $27,120,000 after purchasing an additional 13,715 shares in the last quarter. Argent Trust Co grew its stake in shares of Intuit by 10.5% in the 2nd quarter. Argent Trust Co now owns 3,059 shares of the software maker’s stock valued at $2,010,000 after purchasing an additional 290 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Intuit by 10.4% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,718 shares of the software maker’s stock worth $3,758,000 after buying an additional 540 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC lifted its position in shares of Intuit by 7.3% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 456 shares of the software maker’s stock worth $299,000 after buying an additional 31 shares during the period. 83.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Morgan Stanley upped their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a report on Wednesday. Oppenheimer lifted their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $765.00 price objective on shares of Intuit in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Insider Buying and Selling

In related news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandeep Aujla sold 109 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the transaction, the chief financial officer now owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock valued at $188,992,187 over the last three months. Company insiders own 2.68% of the company’s stock.

Intuit Trading Down 0.3 %

NASDAQ:INTU traded down $1.63 on Friday, hitting $605.64. 297,876 shares of the stock were exchanged, compared to its average volume of 1,477,822. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The stock has a market capitalization of $169.53 billion, a price-to-earnings ratio of 58.93, a P/E/G ratio of 3.07 and a beta of 1.25. The company’s 50-day moving average price is $649.03 and its 200 day moving average price is $637.60.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. Intuit’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be given a $1.04 dividend. The ex-dividend date is Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. Intuit’s dividend payout ratio is currently 40.39%.

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.