FSA Wealth Management Acquires Stake in Intuit Inc.

FSA Wealth Management LLC has recently announced the acquisition of 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 & Exchange Commission. The institutional investor purchased 2,102 shares of Intuit's stock, which is valued at roughly $1,305,000. As a result, Intuit now represents about 0.5% of FSA Wealth Management's overall portfolio, ranking as its 17th largest investment.

Other Institutional Investments

Other institutional investors and hedge funds have also been engaging with Intuit’s shares. For instance, LGT Financial Advisors LLC established a new position in Intuit in the second quarter valued at $25,000. Likewise, Cultivar Capital Inc. and Fairway Wealth LLC bought stakes worth around $26,000 each during the same quarter. In the third quarter, Northwest Investment Counselors LLC acquired a stake valued at approximately $27,000, and Hobbs Group Advisors LLC invested about $35,000 in Intuit. Overall, hedge funds and institutional investors own around 83.66% of Intuit's stock.

Recent Share Performance

The trading activity for Intuit shares has seen an uptick, with shares opening at $641.73 on a recent Friday. The company boasts a market capitalization of $179.71 billion, a price-to-earnings (P/E) ratio of 62.30, and a P/E/G (Price/Earnings to Growth) ratio of 3.17. With a beta of 1.25, Intuit's stock has shown a reasonable level of volatility. The 50-day moving average stands at $634.10 while the 200-day moving average is $631.43. Intuit also has a debt-to-equity ratio of 0.31 and current and quick ratios at 1.24. The stock has experienced a 52-week low of $557.29 and a high of $714.78.

Financial Performance

Intuit recently released its earnings report on November 21. The software giant reported earnings per share (EPS) of $2.50 for the quarter, surpassing analysts’ expectations of $2.36. The revenue for this quarter was $3.28 billion, exceeding the consensus estimate of $3.14 billion. Intuit maintained a net margin of 17.59% and a return on equity of 18.25%. Compared to the previous year, quarterly revenue grew by 10.2%. Analysts anticipate the company will achieve an EPS of 14.07 for the current fiscal year.

Dividend Information

Recently, Intuit declared a quarterly dividend of $1.04 per share, which will be distributed on January 17. Stockholders of record by January 9 will receive this dividend, which translates to an annualized dividend of $4.16. At a yield of 0.65%, the company's dividend payout ratio currently stands at 40.39%.

Insider Transactions

In addition to these developments, there has been some insider activity at Intuit. CFO Sandeep Aujla sold 862 shares on September 4 at an average price of $621.03, totaling $535,327.86. Post-sale, the CFO holds 3,840 shares valued at around $2,384,755.20, reflecting an 18.33% reduction in ownership. In another instance, insider Scott D. Cook sold 2,461 shares on September 18 for approximately $1,568,124.59. Following this selling activity, Cook owns 6,453,105 shares, worth about $4.11 billion, indicating a 0.04% decrease in ownership. In the past 90 days, company insiders have collectively sold 130,265 shares worth $83,336,625, while insiders maintain 2.90% of total ownership in the company.

Analyst Ratings

Wall Street analysts have begun to express more cautious sentiments regarding Intuit's shares. On November 22, StockNews.com downgraded Intuit from a “buy” to a “hold” rating. Conversely, analysts from Susquehanna maintained a “positive” rating while setting a $757.00 target price. Royal Bank of Canada also reiterated an “outperform” rating with a target price set at $760.00. Piper Sandler lowered their target from $768.00 to $765.00, likewise maintaining an “overweight” stance. Stifel Nicolaus also revised their price objective, now targeting $725.00 down from $795.00. The consensus assessment indicates that six analysts consider it a hold while fourteen endorse it as a buy, culminating in an average rating of “Moderate Buy” with a price target of $737.44.

About Intuit Inc.

Intuit Inc. provides a variety of financial management and compliance services and products tailored for consumers, small businesses, self-employed individuals, and accounting professionals. The company's operational segments include Small Business & Self-Employed, Consumer, Credit Karma, and ProTax, catering to markets both domestically and internationally.

Acquisition, Shares, Investors