Tyche Wealth Partners LLC Buys New Position in Intuit Inc. (NASDAQ:INTU)

Tyche Wealth Partners LLC bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the fourth quarter, Holdings Channel reports. The firm bought 1,484 shares of the software maker’s stock, valued at approximately $932,000.

A number of other hedge funds also recently bought and sold shares of the stock. International Assets Investment Management LLC raised its position in shares of Intuit by 68,404.7% during the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after acquiring an additional 483,621 shares in the last quarter. Holocene Advisors LP lifted its position in shares of Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after acquiring an additional 312,212 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after acquiring an additional 268,060 shares in the last quarter. State Street Corp lifted its position in Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after buying an additional 221,885 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new stake in Intuit during the fourth quarter worth about $104,278,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ INTU opened at $588.26 on Thursday. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The firm’s 50-day simple moving average is $629.33 and its 200 day simple moving average is $632.68. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market cap of $164.66 billion, a price-to-earnings ratio of 57.11, a PEG ratio of 2.96 and a beta of 1.24.

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

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

Analyst Upgrades and Downgrades

A number of research firms have commented on INTU. Jefferies Financial Group increased their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research report on Wednesday, January 15th. Stifel Nicolaus lowered their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and set a $765.00 price target on shares of Intuit in a research note on Friday, January 10th. Finally, Oppenheimer increased their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $726.53.

Insider Activity

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 1,300 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $626.42, for a total transaction of $814,346.00. Following the transaction, the chief financial officer now directly owns 644 shares of the company’s stock, valued at $403,414.48. The trade was a 66.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock worth $188,992,187 in the last three months. Corporate insiders own 2.68% of the company’s stock.

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.