Pacific Capital Wealth Advisors Inc. Makes New Investment in Intuit Inc. (NASDAQ:INTU)

Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 288 shares of the software maker’s stock, valued at approximately $180,000.

A number of other institutional investors have also modified their holdings of INTU. Concord Wealth Partners grew its holdings in Intuit by 10.5% in the third quarter. Concord Wealth Partners now owns 673 shares of the software maker’s stock worth $344,000 after purchasing an additional 64 shares during the last quarter. BluePath Capital Management LLC acquired a new position in Intuit during the 3rd quarter valued at about $43,000. Mackenzie Financial Corp raised its stake in Intuit by 0.8% in the third quarter. Mackenzie Financial Corp now owns 205,080 shares of the software maker’s stock valued at $104,074,000 after buying an additional 1,635 shares during the last quarter. Brighton Jones LLC boosted its holdings in Intuit by 2.6% in the third quarter. Brighton Jones LLC now owns 2,753 shares of the software maker’s stock worth $1,407,000 after acquiring an additional 71 shares in the last quarter. Finally, Calamos Wealth Management LLC grew its stake in shares of Intuit by 32.0% during the third quarter. Calamos Wealth Management LLC now owns 20,056 shares of the software maker’s stock worth $10,247,000 after acquiring an additional 4,865 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at approximately $2,083,313.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on INTU shares. Oppenheimer increased their price objective on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Piper Sandler boosted their price objective on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. KeyCorp upped their target price on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. JPMorgan Chase & Co. lifted their price target on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Finally, StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus price target of $650.23.

Intuit Price Performance

NASDAQ INTU traded down $8.72 during trading hours on Wednesday, reaching $632.43. The company’s stock had a trading volume of 889,523 shares, compared to its average volume of 1,228,042. The firm has a market capitalization of $177.08 billion, a price-to-earnings ratio of 64.53, a P/E/G ratio of 3.83 and a beta of 1.22. The company’s 50-day moving average is $636.41 and its two-hundred day moving average is $608.45. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. Intuit Inc. has a 1-year low of $400.22 and a 1-year high of $671.01.

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

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were given a dividend of $0.90 per share. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

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.