Intuit Inc. (NASDAQ:INTU) Shares Acquired by Unique Wealth LLC

Unique Wealth LLC raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 45.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 2,589 shares of the software maker’s stock after acquiring an additional 806 shares during the quarter. Unique Wealth LLC’s holdings in Intuit were worth $1,683,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INTU. Parnassus Investments LLC increased its stake in Intuit by 119.0% during the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after purchasing an additional 727,185 shares during the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of Intuit by 1.1% in the fourth quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker’s stock valued at $13,293,000 after buying an additional 226 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Intuit by 1.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock worth $112,381,000 after acquiring an additional 1,990 shares during the period. Glenmede Trust Co. NA raised its holdings in shares of Intuit by 12.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock worth $9,400,000 after purchasing an additional 2,074 shares in the last quarter. Finally, Hixon Zuercher LLC bought a new stake in Intuit during the fourth quarter worth approximately $1,292,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Performance

INTU traded up $16.07 on Friday, reaching $632.15. The company had a trading volume of 3,682,587 shares, compared to its average volume of 1,778,125. The company’s fifty day moving average is $615.61 and its 200 day moving average is $626.00. Intuit Inc. has a fifty-two week low of $442.74 and a fifty-two week high of $676.62. The stock has a market cap of $176.72 billion, a P/E ratio of 58.32, a P/E/G ratio of 3.52 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same quarter in the prior year, the business posted $7.80 EPS. The business’s revenue was up 11.9% compared to the same quarter last year. As a group, analysts predict that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s payout ratio is currently 33.21%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on INTU shares. Erste Group Bank restated a “hold” rating on shares of Intuit in a report on Friday, June 14th. KeyCorp boosted their price target on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Jefferies Financial Group restated a “buy” rating and set a $770.00 price target on shares of Intuit in a research note on Thursday, June 13th. Piper Sandler boosted their price target on Intuit from $750.00 to $760.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Finally, Morgan Stanley lifted their price objective on Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $679.41.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 27,309 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the transaction, the insider now directly owns 6,524,412 shares of the company’s stock, valued at $3,870,020,221.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Scott D. Cook sold 27,309 shares of Intuit stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the completion of the transaction, the insider now owns 6,524,412 shares in the company, valued at $3,870,020,221.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark P. Notarainni sold 465 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $281,129.70. Following the completion of the transaction, the executive vice president now directly owns 869 shares of the company’s stock, valued at approximately $525,380.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 193,937 shares of company stock valued at $113,123,232. Insiders own 2.90% of the company’s stock.

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.