FSA Wealth Management LLC Acquires Stake in Intuit Inc.

FSA Wealth Management LLC has recently acquired a new shareholding in Intuit Inc. (NASDAQ: INTU) during the third quarter of the year. This purchase was disclosed in the company’s latest Form 13F filing with the Securities and Exchange Commission. Specifically, the institutional investor bought 2,102 shares of the well-known software maker's stock, which amounts to approximately $1,305,000 in value. Intuit now represents about 0.5% of FSA Wealth Management LLC's investment portfolio, ranking as their 17th largest position.

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In addition to FSA Wealth Management, several other institutional investors and hedge funds have also been active in buying and selling shares of Intuit. For instance, LGT Financial Advisors LLC entered a new position during the second quarter, investing $25,000 in the company. Similarly, Cultivar Capital Inc. and Fairway Wealth LLC each purchased new stakes in Intuit worth approximately $26,000. In the third quarter, Northwest Investment Counselors LLC bought shares valued at around $27,000, whereas Hobbs Group Advisors LLC acquired new shares during the second quarter, valued close to $35,000. Overall, around 83.66% of Intuit’s stock is now owned by various hedge funds and institutional investors.

Intuit Stock Performance

On the trading front, shares of INTU opened at $641.73 recently. The company boasts a market capitalization of $179.71 billion and a PE ratio of 62.30. Additionally, it has a P/E/G ratio of 3.17 and a beta of 1.25. The fifty-day and 200-day moving averages for the stock are $634.10 and $631.43, respectively. Intuit has shown a debt-to-equity ratio of 0.31, with both the quick and current ratios standing at 1.24. Over the last year, the stock recorded a fifty-two week low of $557.29 and a high of $714.78.

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Intuit last announced its earnings results on November 21st. The software company reported earnings of $2.50 per share, surpassing analysts' expectations of $2.36 by $0.14. Notably, the firm recorded revenues of $3.28 billion for that quarter, again exceeding the consensus estimate of $3.14 billion. Intuit achieved a net margin of 17.59% and a return on equity of 18.25%. The quarterly revenue showed a growth of 10.2% compared to the same period last year. During the previous year, the same quarter yielded earnings per share of $1.14. Analysts project that Intuit Inc. will report approximately 14.07 earnings per share for the current fiscal year.

Dividend Announcement from Intuit

Recently, Intuit announced a quarterly dividend that will be disbursed on January 17th. Shareholders who are on record by January 9th will receive a dividend of $1.04 per share, amounting to an annualized dividend of $4.16, which translates to a dividend yield of 0.65%. The ex-dividend date is set for January 9th, and the company’s current dividend payout ratio is 40.39%.

Insider Transactions at Intuit

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In insider trading activities, CFO Sandeep Aujla sold 862 shares of Intuit stock on September 4th at an average price of $621.03, resulting in a total transaction value of $535,327.86. Following this transaction, Aujla now holds 3,840 shares valued at approximately $2,384,755.20, equating to an 18.33% decrease in his ownership. Another insider, Scott D. Cook, sold 2,461 shares on September 18th at an average price of $637.19, for a total of $1,568,124.59. After this sale, Cook retains direct ownership of 6,453,105 shares, valued at around $4.11 billion, reflecting a minor 0.04% decline in ownership. Over the last 90 days, insiders have sold a total of 130,265 shares worth about $83.33 million, with company insiders owning approximately 2.90% of the stock.

Analyst Ratings on Intuit

Wall Street analysts have expressed various opinions about INTU shares. StockNews.com has recently downgraded Intuit from a "buy" distinction to a "hold" rating. Meanwhile, Susquehanna has maintained a "positive" rating, setting a target price of $757.00. Royal Bank of Canada reiterated an "outperform" rating with a price target of $760.00. Piper Sandler has reduced its price target from $768.00 to $765.00 while maintaining an "overweight" rating on the stock. Lastly, Stifel Nicolaus lowered its price target from $795.00 to $725.00 but continues to rate it as a "buy." Overall, six analysts recommend holding the stock, while fourteen analysts are favorable, rating it as a buy. According to MarketBeat.com, Intuit holds an average rating of "Moderate Buy" with a projected average price target of $737.44.

About Intuit

Intuit Inc. specializes in providing financial management and compliance products and services. Its customer base includes individual consumers, small businesses, self-employed professionals, and accounting professionals across the United States, Canada, and beyond. The company operates through four key segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.

Conclusion

In summary, the investment landscape surrounding Intuit Inc. looks promising, with various institutional investors making significant moves and positive analyst ratings pointing toward potential future growth. Investors may want to keep a close watch on developments and potential fluctuations in this dynamic market.

Intuit, Stocks, Investment