CreativeOne Wealth LLC Acquires 1,947 Shares of Intuit Inc. (NASDAQ:INTU)

CreativeOne Wealth LLC grew its stake in Intuit Inc. (NASDAQ:INTU) by 26.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,319 shares of the software maker’s stock after acquiring an additional 1,947 shares during the period. CreativeOne Wealth LLC’s holdings in Intuit were worth $5,787,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. LGT Financial Advisors LLC acquired a new position in shares of Intuit during the 2nd quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new stake in shares of Intuit in the 2nd quarter valued at approximately $26,000. Fairway Wealth LLC bought a new position in shares of Intuit in the second quarter valued at $26,000. Northwest Investment Counselors LLC acquired a new position in Intuit during the third quarter worth $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in Intuit during the second quarter worth $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Up 0.3 %

Shares of NASDAQ INTU opened at $641.01 on Wednesday. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. 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 cap of $179.51 billion, a PE ratio of 62.02, a price-to-earnings-growth ratio of 3.14 and a beta of 1.25. The company has a 50 day simple moving average of $634.46 and a 200 day simple moving average of $631.29.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the company earned $1.14 EPS. Intuit’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, research analysts forecast that Intuit Inc. will post 14.05 EPS for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s dividend payout ratio is presently 40.39%.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the transaction, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. This represents a 99.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,265 shares of company stock valued at $35,200,125. 2.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on INTU. Oppenheimer raised their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Scotiabank assumed coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. JPMorgan Chase & Co. raised their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Susquehanna reiterated a “positive” rating and issued a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Six equities research analysts have rated the stock with a hold rating and fourteen 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 $737.44.

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.