Advisor Resource Council Has $821,000 Holdings in Intuit Inc. (NASDAQ:INTU)

Advisor Resource Council lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 280.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,313 shares of the software maker’s stock after purchasing an additional 968 shares during the quarter. Advisor Resource Council’s holdings in Intuit were worth $821,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of INTU. Desjardins Global Asset Management Inc. raised its holdings in Intuit by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after purchasing an additional 16 shares in the last quarter. JFS Wealth Advisors LLC grew its stake in shares of Intuit by 1.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock worth $978,000 after acquiring an additional 16 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Intuit by 3.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock worth $281,000 after acquiring an additional 16 shares during the last quarter. GAM Holding AG grew its stake in shares of Intuit by 0.3% in the fourth quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock worth $3,671,000 after acquiring an additional 17 shares during the last quarter. Finally, Janiczek Wealth Management LLC grew its stake in shares of Intuit by 2.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after acquiring an additional 17 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on INTU. BMO Capital Markets reissued an “outperform” rating and issued a $700.00 target price on shares of Intuit in a research note on Tuesday, March 26th. KeyCorp increased their target price on Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Piper Sandler increased their price objective on Intuit from $750.00 to $760.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Jefferies Financial Group reaffirmed a “buy” rating and set a $770.00 price objective on shares of Intuit in a research report on Thursday, June 13th. Finally, Morgan Stanley increased their price objective on Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $687.22.

Intuit Price Performance

INTU traded up $3.68 on Thursday, hitting $659.90. 931,929 shares of the company’s stock traded hands, compared to its average volume of 1,530,018. The company’s 50 day simple moving average is $619.94 and its 200-day simple moving average is $628.97. The firm has a market cap of $184.47 billion, a price-to-earnings ratio of 60.88, a P/E/G ratio of 3.75 and a beta of 1.23. Intuit Inc. has a one year low of $444.19 and a one year high of $676.62. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.12 by $1.76. The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company earned $7.80 EPS. As a group, research analysts anticipate that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Announces Dividend

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

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the sale, the insider now owns 6,791,469 shares of the company’s stock, valued at approximately $4,060,279,741.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Sandeep Aujla sold 1,061 shares of Intuit stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the transaction, the chief financial officer now owns 3,333 shares in the company, valued at approximately $2,170,682.91. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the transaction, the insider now owns 6,791,469 shares of the company’s stock, valued at approximately $4,060,279,741.65. The disclosure for this sale can be found here. Insiders have sold a total of 195,963 shares of company stock valued at $114,442,445 in the last quarter. 2.90% of the stock is currently owned by insiders.

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.