FSA Wealth Management LLC Acquires Stake in Intuit Inc.

FSA Wealth Management LLC has recently acquired a stake in Intuit Inc. (NASDAQ:INTU), as indicated in its latest Form 13F submission to the Securities and Exchange Commission. During the third quarter, the institutional investor purchased 2,102 shares of the software company's stock, totaling an investment valued at around $1,305,000. This stake represents approximately 0.5% of FSA Wealth Management's overall portfolio, positioning Intuit as the firm's 17th largest holding.

Other Institutional Investors in Intuit

In addition to FSA Wealth Management, several other institutional investors and hedge funds have also made moves regarding Intuit's shares. LGT Financial Advisors LLC established a new position valued at $25,000 in the second quarter. Similarly, Cultivar Capital Inc. and Fairway Wealth LLC each purchased new stakes worth about $26,000 during the same period. Northwest Investment Counselors LLC added a position valued at approximately $27,000 in the third quarter, while Hobbs Group Advisors LLC invested around $35,000 in Intuit's stock during the second quarter. Currently, hedge funds and institutional investors control 83.66% of Intuit's shares.

Intuit's Recent Stock Performance

Shares of INTU rose by 0.9% and opened at $641.73 on the latest trading day. The company boasts a market capitalization of $179.71 billion, with a PE ratio of 62.30 and a P/E/G ratio of 3.17. Intuit's 50-day moving average stands at $634.10, while the 200-day moving average is $631.43. The firm has a debt-to-equity ratio of 0.31 and both a quick ratio and current ratio of 1.24. Over the past year, Intuit's stock hit a low of $557.29 and peaked at $714.78.

Earnings Results and Future Projections

Intuit recently announced its earnings results for the last quarter on November 21st. The software company reported earnings per share (EPS) of $2.50, surpassing analysts' forecasts of $2.36 by $0.14. The company's revenue for this quarter totaled $3.28 billion, exceeding consensus estimates of $3.14 billion. Intuit recorded a net margin of 17.59% and a return on equity of 18.25%. Compared to the previous year, quarterly revenue has grown by 10.2%, with the prior year's EPS at $1.14. Analysts predict that Intuit will achieve an EPS of 14.07 for the fiscal year.

Dividend Announcement from Intuit

Furthermore, Intuit has declared a quarterly dividend payable on January 17th. Shareholders on record as of January 9th will receive a dividend of $1.04 per share, representing an annualized dividend of $4.16 and a yield of 0.65%. The ex-dividend date is also set for January 9th, with Intuit's current dividend payout ratio being 40.39%.

Insider Transactions

In related news, CFO Sandeep Aujla sold 862 shares on September 4th, receiving approximately $535,327.86 from the transaction, at an average selling price of $621.03. Post-transaction, Aujla holds 3,840 shares of Intuit. Additionally, insider Scott D. Cook sold 2,461 shares on September 18th for about $1,568,124.59. After this sale, he owns roughly 6,453,105 shares of Intuit. In the past 90 days, insiders have offloaded 130,265 shares worth $83,336,625. Company insiders maintain a 2.90% ownership stake in Intuit.

Analysts' Ratings and Recommendations

Wall Street analysts have shared their views on INTU shares as well. StockNews.com downgraded Intuit's rating from "buy" to "hold" on November 22nd. Susquehanna maintained a "positive" rating with a price target of $757.00, while Royal Bank of Canada reiterated an "outperform" rating and set a target price of $760.00. Piper Sandler lowered their price target from $768.00 to $765.00, giving the stock an "overweight" rating. Additionally, Stifel Nicolaus revised its price objective from $795.00 to $725.00 while recommending a "buy". Overall, six analysts have rated the stock as a hold, while 14 have given it a buy rating. The average rating for Intuit is currently labeled as "Moderate Buy" with a price target of $737.44.

About Intuit Inc.

Intuit Inc. specializes in providing financial management and compliance solutions targeted at consumers, small businesses, self-employed individuals, and accountants. It operates in four primary segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.

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