Redhawk Wealth Advisors Inc. Makes New $240,000 Investment in Intuit Inc. (NASDAQ:INTU)

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Redhawk Wealth Advisors Inc. purchased a new position in Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 633 shares of the software maker’s stock, valued at approximately $240,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of INTU. UBS Asset Management Americas Inc. boosted its position in shares of Intuit by 48.5% in the third quarter. UBS Asset Management Americas Inc. now owns 1,779,380 shares of the software maker’s stock worth $580,452,000 after purchasing an additional 581,028 shares during the period. Wells Fargo & Company MN boosted its position in shares of Intuit by 47.1% during the third quarter. Wells Fargo & Company MN now owns 1,715,738 shares of the software maker’s stock worth $559,693,000 after acquiring an additional 549,117 shares during the last quarter. Allianz Asset Management GmbH boosted its position in shares of Intuit by 18.3% during the third quarter. Allianz Asset Management GmbH now owns 1,826,020 shares of the software maker’s stock worth $595,666,000 after acquiring an additional 282,183 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of Intuit by 7.0% during the third quarter. Nuveen Asset Management LLC now owns 3,762,244 shares of the software maker’s stock worth $1,227,281,000 after acquiring an additional 245,406 shares during the last quarter. Finally, Findlay Park Partners LLP boosted its position in shares of Intuit by 11.1% during the third quarter. Findlay Park Partners LLP now owns 2,395,911 shares of the software maker’s stock worth $781,570,000 after acquiring an additional 239,842 shares during the last quarter. Institutional investors and hedge funds own 84.79% of the company’s stock.

Shares of INTU opened at $363.11 on Thursday. Intuit Inc. has a twelve month low of $187.68 and a twelve month high of $398.12. The company has a market cap of $95.41 billion, a P/E ratio of 48.74, a P/E/G ratio of 4.29 and a beta of 0.99. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.39. The company’s fifty day simple moving average is $373.91 and its 200-day simple moving average is $338.92.

Intuit (NASDAQ:INTU) last announced its earnings results on Wednesday, November 18th. The software maker reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.90. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.20 billion. Intuit had a net margin of 25.10% and a return on equity of 40.29%. During the same quarter in the prior year, the firm posted $0.55 earnings per share. Analysts predict that Intuit Inc. will post 5.87 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 19th. Stockholders of record on Monday, January 11th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Friday, January 8th. Intuit’s payout ratio is presently 35.98%.

In other news, EVP James Alexander Chriss sold 298 shares of the company’s stock in a transaction dated Monday, January 4th. The shares were sold at an average price of $379.23, for a total value of $113,010.54. Following the transaction, the executive vice president now directly owns 315 shares in the company, valued at $119,457.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Michelle M. Clatterbuck sold 412 shares of the company’s stock in a transaction dated Monday, January 4th. The stock was sold at an average price of $379.23, for a total transaction of $156,242.76. Following the completion of the transaction, the chief financial officer now owns 978 shares in the company, valued at $370,886.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,803 shares of company stock worth $2,166,769. Company insiders own 3.38% of the company’s stock.

A number of brokerages recently weighed in on INTU. Barclays began coverage on shares of Intuit in a research report on Monday, January 11th. They set an “overweight” rating and a $455.00 target price for the company. Zacks Investment Research lowered shares of Intuit from a “hold” rating to a “strong sell” rating and set a $310.00 target price for the company. in a research report on Thursday, December 10th. Wells Fargo & Company upped their target price on shares of Intuit from $425.00 to $440.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 19th. JPMorgan Chase & Co. upgraded shares of Intuit from an “underweight” rating to an “overweight” rating and upped their target price for the stock from $300.00 to $450.00 in a research report on Wednesday, December 9th. Finally, Piper Sandler upped their target price on shares of Intuit from $412.00 to $418.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $401.67.

Intuit Company Profile

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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.

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