Moss Adams Wealth Advisors LLC Grows Stake in Intuit Inc. (NASDAQ:INTU)

Moss Adams Wealth Advisors LLC lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,456 shares of the software maker’s stock after purchasing an additional 45 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Intuit were worth $1,544,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Intech Investment Management LLC grew its position in shares of Intuit by 9.3% in the second quarter. Intech Investment Management LLC now owns 5,030 shares of the software maker’s stock valued at $3,306,000 after purchasing an additional 429 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Intuit by 80.8% in the second quarter. Canada Pension Plan Investment Board now owns 251,385 shares of the software maker’s stock valued at $165,213,000 after acquiring an additional 112,359 shares during the period. AE Wealth Management LLC grew its stake in Intuit by 57.0% during the second quarter. AE Wealth Management LLC now owns 8,726 shares of the software maker’s stock valued at $5,735,000 after acquiring an additional 3,169 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Intuit by 12.8% during the 2nd quarter. Pacer Advisors Inc. now owns 41,621 shares of the software maker’s stock worth $27,354,000 after acquiring an additional 4,730 shares during the period. Finally, Sei Investments Co. lifted its stake in Intuit by 12.2% in the 2nd quarter. Sei Investments Co. now owns 642,187 shares of the software maker’s stock worth $422,050,000 after purchasing an additional 69,656 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 0.5 %

INTU opened at $604.13 on Friday. The company has a market cap of $169.11 billion, a P/E ratio of 58.65, a P/E/G ratio of 3.07 and a beta of 1.25. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The business’s 50-day moving average price is $646.09 and its 200-day moving average price is $637.06. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. On average, equities analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s payout ratio is 40.39%.

Analyst Ratings Changes

Several research firms have recently weighed in on INTU. Jefferies Financial Group upped their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Piper Sandler restated an “overweight” rating and issued a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a report on Wednesday. Scotiabank began coverage on Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Insider Activity

In related news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 293,014 shares of company stock valued at $188,992,187. Insiders own 2.68% of the company’s stock.

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.