Capital Advisors Ltd. LLC raised its position in shares of Intuit Inc. (NASDAQ:INTU – Get Rating) by 21.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 918 shares of the software maker’s stock after purchasing an additional 165 shares during the period. Capital Advisors Ltd. LLC’s holdings in Intuit were worth $441,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of INTU. Nicholas Hoffman & Company LLC. lifted its stake in shares of Intuit by 933,957.5% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 3,801,614 shares of the software maker’s stock valued at $2,445,274,000 after purchasing an additional 3,801,207 shares during the last quarter. Norges Bank purchased a new stake in shares of Intuit in the 4th quarter worth $1,492,441,000. BlackRock Inc. grew its holdings in Intuit by 7.1% during the 4th quarter. BlackRock Inc. now owns 25,129,120 shares of the software maker’s stock worth $16,163,554,000 after acquiring an additional 1,664,393 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Intuit by 1,157.4% during the fourth quarter. Fisher Asset Management LLC now owns 1,203,273 shares of the software maker’s stock valued at $773,970,000 after buying an additional 1,107,581 shares during the period. Finally, State Street Corp raised its position in shares of Intuit by 6.0% in the 4th quarter. State Street Corp now owns 11,529,236 shares of the software maker’s stock worth $7,415,835,000 after acquiring an additional 652,399 shares in the last quarter. Hedge funds and other institutional investors own 83.42% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on INTU shares. Credit Suisse Group lowered their price target on Intuit from $600.00 to $500.00 and set an “outperform” rating for the company in a report on Wednesday, May 25th. William Blair reaffirmed an “outperform” rating on shares of Intuit in a research note on Wednesday, May 25th. Bank of America decreased their price objective on Intuit from $650.00 to $530.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. Oppenheimer cut their target price on shares of Intuit to $476.00 in a research note on Wednesday, May 25th. Finally, Piper Sandler decreased their target price on Intuit from $674.00 to $500.00 and set an “overweight” rating for the company in a research note on Wednesday, May 25th. One research analyst has rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $561.17.
Intuit Price Performance
Intuit (NASDAQ:INTU – Get Rating) last issued its earnings results on Tuesday, May 24th. The software maker reported $6.70 earnings per share for the quarter, hitting the consensus estimate of $6.70. The company had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.51 billion. Intuit had a return on equity of 20.77% and a net margin of 19.44%. The business’s revenue was up 35.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.45 EPS. As a group, sell-side analysts predict that Intuit Inc. will post 8.22 earnings per share for the current fiscal year.
Intuit Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, July 18th. Shareholders of record on Monday, July 11th were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Friday, July 8th. Intuit’s dividend payout ratio (DPR) is presently 30.84%.
Insider Transactions at Intuit
In other news, EVP James Alexander Chriss sold 984 shares of the stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $386.29, for a total transaction of $380,109.36. Following the transaction, the executive vice president now owns 343 shares of the company’s stock, valued at approximately $132,497.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP James Alexander Chriss sold 984 shares of the stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $386.29, for a total transaction of $380,109.36. Following the completion of the sale, the executive vice president now owns 343 shares in the company, valued at approximately $132,497.47. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Raul Vazquez sold 1,790 shares of the stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $390.37, for a total value of $698,762.30. Following the completion of the sale, the director now directly owns 2,019 shares of the company’s stock, valued at $788,157.03. The disclosure for this sale can be found here. Insiders have sold a total of 12,774 shares of company stock worth $5,002,772 in the last 90 days. 3.27% of the stock is owned by insiders.
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 ProConnect.
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