Intuit Inc. (NASDAQ:INTU) Shares Acquired by Private Advisor Group LLC

Private Advisor Group LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 6.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,236 shares of the software maker’s stock after purchasing an additional 431 shares during the quarter. Private Advisor Group LLC’s holdings in Intuit were worth $4,523,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. NewSquare Capital LLC acquired a new position in Intuit in the 3rd quarter worth $25,000. DiNuzzo Private Wealth Inc. acquired a new stake in Intuit during the 4th quarter valued at approximately $25,000. Cape Investment Advisory Inc. purchased a new stake in Intuit during the 3rd quarter worth approximately $26,000. MCF Advisors LLC raised its position in shares of Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after purchasing an additional 25 shares in the last quarter. Finally, Aspire Private Capital LLC increased its position in shares of Intuit by 144.4% in the 3rd quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock worth $34,000 after purchasing an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of research reports. Wells Fargo & Company lifted 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. Piper Sandler boosted their price target on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. BMO Capital Markets reissued an “outperform” rating and set a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. Stifel Nicolaus upped their price objective on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Susquehanna raised their target price on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average target price of $650.23.

Insider Activity at Intuit

In other news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction that occurred on 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 directly owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares in the company, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock valued at $3,117,156 in the last ninety days. Insiders own 2.90% of the company’s stock.

Intuit Price Performance

Shares of INTU stock opened at $626.86 on Friday. The company has a market capitalization of $175.52 billion, a P/E ratio of 63.97, a P/E/G ratio of 3.83 and a beta of 1.22. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The stock has a 50 day moving average of $635.87 and a two-hundred day moving average of $608.61.

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

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s payout ratio is 36.73%.

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 four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.