Atticus Wealth Management LLC Boosts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Atticus Wealth Management LLC increased its stake in Intuit Inc. (NASDAQ:INTU) by 31.1% in the first quarter, HoldingsChannel reports. The fund owned 556 shares of the software maker’s stock after purchasing an additional 132 shares during the period. Atticus Wealth Management LLC’s holdings in Intuit were worth $362,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. DiNuzzo Private Wealth Inc. bought a new position in shares of Intuit during the fourth quarter valued at approximately $25,000. MCF Advisors LLC boosted its holdings in Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after acquiring an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new position in shares of Intuit in the 4th quarter worth about $38,000. Sachetta LLC purchased a new stake in Intuit during the 4th quarter valued at about $39,000. Finally, Webster Bank N. A. bought a new position in shares of Intuit in the fourth quarter worth approximately $41,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Price Performance

Shares of Intuit stock traded up $5.77 on Friday, hitting $657.21. 1,753,982 shares of the company traded hands, compared to its average volume of 1,628,761. Intuit Inc. has a 52 week low of $444.19 and a 52 week high of $676.62. The business has a 50-day simple moving average of $618.61 and a 200 day simple moving average of $628.16. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market capitalization of $183.72 billion, a P/E ratio of 60.63, a price-to-earnings-growth ratio of 3.76 and a beta of 1.21.

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

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.55%. The ex-dividend date is Wednesday, July 10th. Intuit’s dividend payout ratio is presently 33.21%.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the transaction, the insider now directly owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the sale, the insider now owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Scott D. Cook sold 27,309 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total transaction of $16,198,606.44. Following the transaction, the insider now owns 6,524,412 shares of the company’s stock, valued at approximately $3,870,020,221.92. The disclosure for this sale can be found here. Insiders have sold a total of 193,937 shares of company stock valued at $113,123,232 in the last quarter. 2.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on INTU shares. Morgan Stanley boosted their price objective on shares of Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. BMO Capital Markets reaffirmed an “outperform” rating and set a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. Piper Sandler lifted their price objective on Intuit from $750.00 to $760.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Wells Fargo & Company upped their target price on shares of Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. Finally, UBS Group boosted their price objective on shares of Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a report on Monday, May 20th. Five analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $683.91.

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.