Turtle Creek Wealth Advisors LLC Acquires 325 Shares of Intuit Inc. (NASDAQ:INTU)

Turtle Creek Wealth Advisors LLC grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,758 shares of the software maker’s stock after buying an additional 325 shares during the quarter. Intuit accounts for about 1.2% of Turtle Creek Wealth Advisors LLC’s holdings, making the stock its 24th biggest position. Turtle Creek Wealth Advisors LLC’s holdings in Intuit were worth $6,060,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in 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 purchasing an additional 483,621 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in Intuit in the 2nd quarter valued at $184,982,000. Ameriprise Financial Inc. lifted its stake in Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after acquiring an additional 238,486 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Intuit by 21.3% during the 2nd quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock worth $633,766,000 after acquiring an additional 169,190 shares during the last quarter. Finally, Seven Post Investment Office LP bought a new stake in shares of Intuit in the 2nd quarter worth $107,513,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, EVP Laura A. Fennell sold 30,159 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the sale, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at $33,427,129.68. This trade represents a 36.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,297 shares of company stock valued at $35,220,046. Insiders own 2.90% of the company’s stock.

Intuit Price Performance

Shares of INTU stock traded down $12.89 during trading hours on Friday, reaching $687.87. The stock had a trading volume of 1,799,379 shares, compared to its average volume of 1,335,732. The stock’s fifty day simple moving average is $633.08 and its 200 day simple moving average is $630.06. The firm has a market capitalization of $192.80 billion, a PE ratio of 65.82, a PEG ratio of 3.45 and a beta of 1.25. Intuit Inc. has a 12 month low of $552.68 and a 12 month high of $714.78. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the company earned $0.40 EPS. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, equities research analysts predict that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were given a dividend of $1.04 per share. The ex-dividend date was Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.60%. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is 39.81%.

Analyst Ratings Changes

INTU has been the topic of a number of recent analyst reports. Susquehanna reissued a “positive” rating and set a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Piper Sandler restated an “overweight” rating and issued a $768.00 target price on shares of Intuit in a research note on Friday, September 27th. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Barclays boosted their price objective on Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Bank of America upped their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $739.24.

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.