FSA Wealth Management LLC Acquires New Stake in Intuit Inc.

FSA Wealth Management LLC has recently made a significant move by acquiring a new stake in Intuit Inc. (NASDAQ:INTU) during the third quarter. This information was disclosed in the firm's latest Form 13F filing with the Securities and Exchange Commission. Specifically, FSA Wealth Management purchased 2,102 shares of the software company, representing an investment worth roughly $1,305,000. Within FSA's portfolio, Intuit now constitutes about 0.5%, placing it as their 17th largest investment.

In addition to FSA, several other institutional investors and hedge funds have also been active in trading shares of Intuit. For instance, LGT Financial Advisors LLC established a new position in Intuit valued at $25,000 in the second quarter. Similarly, Cultivar Capital Inc. and Fairway Wealth LLC each acquired stakes worth around $26,000 during the same quarter. Northwest Investment Counselors LLC bought shares worth approximately $27,000 in the third quarter, while Hobbs Group Advisors LLC introduced a new position valued near $35,000 in the second quarter. Overall, it has been noted that 83.66% of Intuit's stock is currently owned by various hedge funds and institutional investors.

Intuit's Recent Performance

On a recent trading session, shares of Intuit opened at $641.73. The company boasts a market capitalization of $179.71 billion and has a PE ratio of 62.30. Additionally, Intuit's P/E/G ratio stands at 3.17 with a beta of 1.25. The stock's fifty-day moving average is $634.10, while its 200-day average is $631.43. The company operates with a debt-to-equity ratio of 0.31, and both its quick and current ratios are at 1.24. Notably, Intuit's stock has seen a fifty-two week low of $557.29 and a high of $714.78.

Latest Earnings Report

Intuit recently released its quarterly earnings on November 21st, revealing an earnings per share (EPS) of $2.50. This figure surpassed analysts' expectations of $2.36 by $0.14. The firm also reported a revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Furthermore, Intuit achieved a net margin of 17.59% and a return on equity of 18.25%. Year-over-year, the company's revenue increased by 10.2%, showcasing robust growth compared to the previous year's quarter, which reported $1.14 EPS. Market analysts project Intuit to post an EPS of 14.07 for the current fiscal year.

Dividend Information

Recently, Intuit announced its next quarterly dividend, set for payment on January 17th. Shareholders on record by January 9th will receive a dividend of $1.04 per share, translating to an annualized dividend of $4.16 with a yield of 0.65%. The ex-dividend date is also January 9th. Intuit's dividend payout ratio currently rests at 40.39%, indicating a healthy approach to returning value to its investors.

Insider Transactions

In related news, CFO Sandeep Aujla sold 862 shares of Intuit stock on September 4th for an average price of $621.03, totaling approximately $535,327.86 from the transaction. Following this sale, Aujla retains 3,840 shares, valued around $2,384,755.20, marking an 18.33% reduction in ownership. Moreover, insider Scott D. Cook sold 2,461 shares on September 18th at an average price of $637.19, amounting to approximately $1,568,124.59, which led to a slight decrease of 0.04% in his ownership of the stock as well. Over the past 90 days, insiders have sold a total of 130,265 shares, valued at $83,336,625. Notably, insiders hold about 2.90% of the company's stock.

Analyst Opinions on Intuit

Equity analysts have expressed varying ratings on Intuit's stock. StockNews.com updated its recommendation from a "buy" to a "hold" on November 22nd. Meanwhile, Susquehanna reaffirmed a "positive" outlook, setting a price target of $757.00 per share in their report issued on August 16th. Royal Bank of Canada also maintained an "outperform" rating with a price target of $760.00 on November 22nd. Piper Sandler adjusted their price target from $768.00 to $765.00 while keeping an "overweight" rating. Similarly, Stifel Nicolaus decreased its price objective from $795.00 to $725.00, reiterating a "buy" rating for the stock. In total, six analysts have designated a hold rating, while fourteen provided a buy rating. According to MarketBeat.com, Intuit has an average rating of "Moderate Buy" with an average price target set at $737.44.

About Intuit Inc.

Intuit Inc. provides a range of financial management and compliance products and services aimed at consumers, small businesses, the self-employed, and accounting professionals across the U.S., Canada, and internationally. The company operates in four primary segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.

Intuit, Investment, Shares