Tyche Wealth Partners LLC Makes New $498,000 Investment in Intuit Inc. (NASDAQ:INTU)

Tyche Wealth Partners LLC bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 796 shares of the software maker’s stock, valued at approximately $498,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. NewSquare Capital LLC purchased a new position in shares of Intuit during the 3rd quarter worth approximately $25,000. Cape Investment Advisory Inc. purchased a new stake in Intuit in the third quarter worth $26,000. Steward Financial Group LLC raised its holdings in Intuit by 50.0% in the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after purchasing an additional 20 shares in the last quarter. Aspire Private Capital LLC boosted its holdings in shares of Intuit by 144.4% during the 3rd quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock valued at $34,000 after buying an additional 39 shares in the last quarter. Finally, Webster Bank N. A. bought a new position in shares of Intuit in the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ:INTU traded up $4.01 during mid-day trading on Wednesday, reaching $615.50. 258,693 shares of the company traded hands, compared to its average volume of 1,238,253. The company’s 50 day moving average price is $645.48 and its 200-day moving average price is $598.28. The firm has a market cap of $172.34 billion, a PE ratio of 62.40, a PEG ratio of 3.73 and a beta of 1.21. Intuit Inc. has a 52 week low of $400.22 and a 52 week high of $671.01. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 earnings per share. On average, equities analysts expect that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.58%. Intuit’s payout ratio is 36.73%.

Wall Street Analyst Weigh In

INTU has been the topic of a number of recent research reports. Wells Fargo & Company upped their price objective on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. BMO Capital Markets reissued an “outperform” rating and issued a $700.00 target price on shares of Intuit in a report on Tuesday, March 26th. KeyCorp increased their price objective on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Stifel Nicolaus upped their target price on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, Oppenheimer boosted their price objective on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $645.00.

Insider Buying and Selling at Intuit

In related news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intuit news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock valued at $3,117,156 in the last three months. 2.90% of the stock is currently owned by corporate 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.