Stratos Wealth Advisors LLC Boosts Stock Position in Intuit Inc. (NASDAQ:INTU)

Stratos Wealth Advisors LLC lifted its stake in Intuit Inc. (NASDAQ:INTU) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,241 shares of the software maker’s stock after purchasing an additional 121 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Intuit were worth $1,409,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. increased its stake in shares of Intuit by 1.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 9,091 shares of the software maker’s stock worth $5,714,000 after acquiring an additional 114 shares during the last quarter. Sargent Investment Group LLC boosted its position in shares of Intuit by 1.6% during the 4th quarter. Sargent Investment Group LLC now owns 1,757 shares of the software maker’s stock valued at $1,077,000 after acquiring an additional 28 shares during the last quarter. Ninety One SA PTY Ltd grew its holdings in shares of Intuit by 4.0% in the fourth quarter. Ninety One SA PTY Ltd now owns 4,062 shares of the software maker’s stock valued at $2,553,000 after purchasing an additional 156 shares during the period. RFG Holdings Inc. increased its position in Intuit by 15.5% during the fourth quarter. RFG Holdings Inc. now owns 1,219 shares of the software maker’s stock worth $768,000 after purchasing an additional 164 shares during the last quarter. Finally, E. Ohman J or Asset Management AB raised its stake in Intuit by 2.0% during the fourth quarter. E. Ohman J or Asset Management AB now owns 74,254 shares of the software maker’s stock worth $46,669,000 after purchasing an additional 1,480 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Laura A. Fennell sold 7,700 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total value of $5,063,828.00. Following the completion of the transaction, the executive vice president now directly owns 33,916 shares of the company’s stock, valued at $22,304,518.24. This trade represents a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock worth $188,992,187 over the last ninety days. Corporate insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays dropped their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Stifel Nicolaus cut their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group lifted their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Scotiabank began coverage on Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Finally, StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Price Performance

INTU stock opened at $590.20 on Friday. The business’s 50-day moving average is $628.37 and its two-hundred day moving average is $632.37. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $165.21 billion, a P/E ratio of 57.30, a P/E/G ratio of 2.96 and a beta of 1.25. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78.

Intuit (NASDAQ:INTU) last issued its 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 net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the company earned $1.14 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. Analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

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

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.