Revolve Wealth Partners LLC Increases Stock Position in Intuit Inc. (NASDAQ:INTU)

Revolve Wealth Partners LLC raised its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 145.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 813 shares of the software maker's stock after buying an additional 482 shares during the quarter. Revolve Wealth Partners LLC's holdings in Intuit were worth $511,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of INTU. Brown Financial Advisors boosted its holdings in Intuit by 0.9% in the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker's stock worth $1,018,000 after acquiring an additional 15 shares in the last quarter. Truvestments Capital LLC raised its position in shares of Intuit by 1.5% in the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker's stock valued at $669,000 after purchasing an additional 16 shares during the last quarter. CVA Family Office LLC boosted its stake in Intuit by 3.3% in the 3rd quarter. CVA Family Office LLC now owns 531 shares of the software maker's stock worth $330,000 after purchasing an additional 17 shares in the last quarter. Chris Bulman Inc grew its position in Intuit by 1.1% during the 3rd quarter. Chris Bulman Inc now owns 1,520 shares of the software maker's stock worth $944,000 after purchasing an additional 17 shares during the last quarter. Finally, Freedom Day Solutions LLC increased its stake in Intuit by 0.4% during the 3rd quarter. Freedom Day Solutions LLC now owns 4,186 shares of the software maker's stock valued at $2,599,000 after purchasing an additional 17 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Price Performance

Shares of NASDAQ:INTU traded down $2.38 during midday trading on Friday, reaching $602.22. 755,953 shares of the company's stock traded hands, compared to its average volume of 1,656,613. The company has a market cap of $168.57 billion, a P/E ratio of 58.56, a PEG ratio of 2.92 and a beta of 1.25. The company has a fifty day simple moving average of $631.72 and a two-hundred day simple moving average of $634.06. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the business earned $1.14 earnings per share. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. Equities analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit's payout ratio is currently 40.39%.

Analyst Ratings Changes

INTU has been the subject of several research reports. BNP Paribas downgraded shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price objective for the company. in a research note on Wednesday, January 15th. 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. Jefferies Financial Group raised their price objective on Intuit from $790.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, November 22nd. Stifel Nicolaus decreased their target price on Intuit from $795.00 to $725.00 and set a "buy" rating for the company in a report on Friday, November 22nd. Finally, StockNews.com upgraded shares of Intuit from a "hold" rating to a "buy" rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $726.53.

Insider Buying and Selling at Intuit

In other news, CAO Lauren D. Hotz sold 1,078 shares of the company's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Laura A. Fennell sold 4,788 shares of the business's stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the transaction, the executive vice president now directly owns 30,010 shares in the company, valued at $18,414,736.20. This trade represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock valued at $188,992,187 over the last quarter. 2.68% of the stock is currently owned by insiders.

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.