Avior Wealth Management LLC Purchases 561 Shares of Intuit Inc. (NASDAQ:INTU)

Avior Wealth Management LLC increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 99.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,125 shares of the software maker’s stock after buying an additional 561 shares during the period. Avior Wealth Management LLC’s holdings in Intuit were worth $691,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Intuit by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock worth $107,854,000 after purchasing an additional 3,648 shares during the period. Capitolis Liquid Global Markets LLC acquired a new stake in Intuit in the fourth quarter worth $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Intuit in the fourth quarter worth $237,244,000. Aigen Investment Management LP acquired a new stake in Intuit in the fourth quarter worth $2,958,000. Finally, Baer Investment Advisory LLC acquired a new stake in Intuit in the fourth quarter worth $3,261,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of research reports. Piper Sandler restated an “overweight” rating and issued a $825.00 price target (up from $785.00) on shares of Intuit in a report on Friday, May 23rd. Mizuho raised their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Wells Fargo & Company set a $880.00 price objective on shares of Intuit and gave the company an “overweight” rating in a report on Friday, June 13th. Hsbc Global Res upgraded shares of Intuit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. Finally, Stifel Nicolaus lifted their price objective on shares of Intuit from $725.00 to $850.00 and gave the company a “buy” rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $787.95.

Insider Activity

In related news, EVP Alex G. Balazs sold 1,459 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total transaction of $1,124,597.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott D. Cook sold 72,442 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the transaction, the insider now directly owns 6,063,495 shares of the company’s stock, valued at approximately $4,494,808,208.55. This represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 279,321 shares of company stock valued at $207,988,705 over the last quarter. Company insiders own 2.68% of the company’s stock.

Intuit Stock Up 0.8%

Intuit stock opened at $761.14 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market cap of $212.32 billion, a PE ratio of 61.78, a price-to-earnings-growth ratio of 3.39 and a beta of 1.28. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $773.45. The firm’s 50-day simple moving average is $682.89 and its 200 day simple moving average is $634.43.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating analysts’ consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the company earned $9.88 earnings per share. Research analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit’s dividend payout ratio (DPR) is currently 33.77%.

Intuit 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.