Opal Wealth Advisors LLC Purchases 34 Shares of Intuit Inc. (NASDAQ:INTU)

Opal Wealth Advisors LLC lifted its position in Intuit Inc. (NASDAQ:INTU) by 10.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 372 shares of the software maker’s stock after purchasing an additional 34 shares during the quarter. Opal Wealth Advisors LLC’s holdings in Intuit were worth $242,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. DiNuzzo Private Wealth Inc. bought a new stake in Intuit during the 4th quarter worth about $25,000. MCF Advisors LLC grew its holdings in Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after acquiring an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new stake in Intuit during the 4th quarter worth about $38,000. Sachetta LLC bought a new stake in Intuit during the 4th quarter worth about $39,000. Finally, Webster Bank N. A. bought a new stake in Intuit during the 4th quarter worth about $41,000. Institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 1,415 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $855,480.70. Following the completion of the transaction, the chief financial officer now directly owns 2,332 shares of the company’s stock, valued at approximately $1,409,880.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the completion of the transaction, the executive vice president now directly owns 869 shares of the company’s stock, valued at $525,380.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Aujla sold 1,415 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $855,480.70. Following the completion of the transaction, the chief financial officer now directly owns 2,332 shares of the company’s stock, valued at $1,409,880.56. The disclosure for this sale can be found here. Insiders sold 193,937 shares of company stock valued at $113,123,232 in the last ninety days. 2.90% of the stock is currently owned by corporate insiders.

Intuit Stock Performance

Shares of INTU stock opened at $631.70 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market capitalization of $176.59 billion, a P/E ratio of 58.32, a price-to-earnings-growth ratio of 3.52 and a beta of 1.21. The company’s 50 day moving average price is $615.61 and its two-hundred day moving average price is $626.42. Intuit Inc. has a 52 week low of $444.19 and a 52 week high of $676.62.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping the consensus estimate of $8.12 by $1.76. The firm had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the company posted $7.80 EPS. On average, analysts expect that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be paid a dividend of $0.90 per share. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. Intuit’s dividend payout ratio is currently 33.21%.

Wall Street Analyst Weigh In

A number of brokerages have commented on INTU. BMO Capital Markets reissued an “outperform” rating and set a $700.00 price objective on shares of Intuit in a report on Tuesday, March 26th. Piper Sandler raised their target price on shares of Intuit from $750.00 to $760.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. KeyCorp raised their target price on shares of Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $770.00 target price on shares of Intuit in a research note on Thursday, June 13th. Finally, Morgan Stanley raised their target price on shares of Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Five analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $679.41.

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.