JustInvest LLC raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 51.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,598 shares of the software maker’s stock after acquiring an additional 1,571 shares during the period. JustInvest LLC’s holdings in Intuit were worth $1,761,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of INTU. IHT Wealth Management LLC acquired a new stake in shares of Intuit during the 3rd quarter worth approximately $210,000. Kingsview Wealth Management LLC bought a new position in Intuit during the 3rd quarter valued at $270,000. Kathmere Capital Management LLC bought a new position in Intuit during the 3rd quarter valued at $100,000. Eudaimonia Partners LLC boosted its stake in shares of Intuit by 24.2% during the 3rd quarter. Eudaimonia Partners LLC now owns 200 shares of the software maker’s stock worth $65,000 after acquiring an additional 39 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Intuit by 0.5% during the 3rd quarter. Sei Investments Co. now owns 304,369 shares of the software maker’s stock worth $99,458,000 after acquiring an additional 1,543 shares in the last quarter. 84.79% of the stock is owned by institutional investors.
In related news, EVP James Alexander Chriss sold 364 shares of the business’s stock in a transaction dated Thursday, February 25th. The stock was sold at an average price of $407.38, for a total transaction of $148,286.32. Following the completion of the transaction, the executive vice president now directly owns 221 shares in the company, valued at $90,030.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Michelle M. Clatterbuck sold 2,253 shares of the business’s stock in a transaction dated Tuesday, March 2nd. The stock was sold at an average price of $403.51, for a total value of $909,108.03. Following the transaction, the chief financial officer now owns 4,293 shares of the company’s stock, valued at $1,732,268.43. The disclosure for this sale can be found here. 3.38% of the stock is owned by insiders.
Intuit (NASDAQ:INTU) last released its quarterly earnings data on Tuesday, February 23rd. The software maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.55. Intuit had a return on equity of 40.29% and a net margin of 25.10%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the company posted $1.16 EPS. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, research analysts expect that Intuit Inc. will post 5.87 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 19th. Investors of record on Monday, April 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.59%. The ex-dividend date was Friday, April 9th. Intuit’s payout ratio is 35.98%.
A number of analysts have recently issued reports on INTU shares. Stifel Nicolaus increased their price target on shares of Intuit from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, March 2nd. Piper Sandler increased their price target on shares of Intuit from $458.00 to $470.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 3rd. Citigroup increased their price target on shares of Intuit from $383.00 to $411.00 and gave the stock a “neutral” rating in a research report on Friday, February 12th. Bank of America reaffirmed a “buy” rating and set a $460.00 price objective on shares of Intuit in a research report on Wednesday, April 14th. Finally, Morgan Stanley reaffirmed a “buy” rating and set a $470.00 price objective on shares of Intuit in a research report on Tuesday, April 6th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Intuit has a consensus rating of “Buy” and a consensus price target of $431.65.
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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