Apollon Wealth Management LLC Has $7.83 Million Stake in Intuit Inc. (NASDAQ:INTU)

Apollon Wealth Management LLC increased its stake in Intuit Inc. (NASDAQ:INTU) by 14.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,452 shares of the software maker’s stock after purchasing an additional 1,589 shares during the period. Apollon Wealth Management LLC’s holdings in Intuit were worth $7,826,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in INTU. Vest Financial LLC boosted its stake in shares of Intuit by 28.7% in the 4th quarter. Vest Financial LLC now owns 3,033 shares of the software maker’s stock valued at $1,906,000 after purchasing an additional 676 shares during the last quarter. BayBridge Capital Group LLC boosted its stake in Intuit by 3.4% in the fourth quarter. BayBridge Capital Group LLC now owns 1,938 shares of the software maker’s stock valued at $1,218,000 after acquiring an additional 63 shares during the last quarter. Cidel Asset Management Inc. boosted its stake in Intuit by 9.6% in the fourth quarter. Cidel Asset Management Inc. now owns 390 shares of the software maker’s stock valued at $245,000 after acquiring an additional 34 shares during the last quarter. Conning Inc. grew its holdings in Intuit by 2.0% during the 4th quarter. Conning Inc. now owns 9,544 shares of the software maker’s stock worth $5,998,000 after acquiring an additional 185 shares during the period. Finally, Golden State Wealth Management LLC bought a new stake in shares of Intuit during the 4th quarter valued at $211,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Barclays reduced their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research report on Wednesday, January 15th. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. Jefferies Financial Group upped their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Stock Down 1.9 %

Shares of INTU opened at $578.85 on Friday. The firm has a market cap of $162.03 billion, a P/E ratio of 56.20, a price-to-earnings-growth ratio of 2.91 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The firm’s 50-day simple moving average is $627.45 and its 200 day simple moving average is $632.08.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 earnings per share. On average, analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio is 40.39%.

Insiders Place Their Bets

In other news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the transaction, the chief financial officer now directly owns 1,944 shares in the company, valued at $1,221,804. This trade represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock worth $188,992,187 in the last quarter. 2.68% 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.