First Foundation Advisors Has $4.51 Million Stake in Intuit Inc. (NASDAQ:INTU)

First Foundation Advisors increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 6.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,931 shares of the software maker’s stock after purchasing an additional 418 shares during the quarter. First Foundation Advisors’ holdings in Intuit were worth $4,505,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. bought a new stake in shares of Intuit in the 4th quarter valued at approximately $25,000. West Branch Capital LLC lifted its stake in Intuit by 79.2% in the first quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after acquiring an additional 19 shares during the last quarter. MCF Advisors LLC grew its position 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. acquired a new position in shares of Intuit during the 4th quarter worth $38,000. Finally, Sachetta LLC bought a new position in shares of Intuit during the 4th quarter valued at $39,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity

In other Intuit news, EVP Mark P. Notarainni sold 465 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the sale, the executive vice president now directly owns 869 shares of the company’s stock, valued at $525,380.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Intuit news, EVP Mark P. Notarainni sold 465 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $281,129.70. Following the transaction, the executive vice president now owns 869 shares of the company’s stock, valued at $525,380.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Sandeep Aujla sold 1,415 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $855,480.70. Following the completion of the sale, the chief financial officer now owns 2,332 shares of the company’s stock, valued at $1,409,880.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 195,963 shares of company stock worth $114,442,445. Corporate insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

INTU has been the topic of several analyst reports. Piper Sandler reissued an “overweight” rating and set a $760.00 target price on shares of Intuit in a research report on Friday, July 12th. UBS Group raised their price objective on Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a research note on Monday, May 20th. Erste Group Bank restated a “hold” rating on shares of Intuit in a report on Friday, June 14th. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Monday, May 27th. Finally, Morgan Stanley upped 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. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $694.27.

Intuit Stock Performance

INTU stock traded down $0.91 during midday trading on Friday, hitting $636.56. The stock had a trading volume of 1,056,569 shares, compared to its average volume of 1,312,862. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The stock has a 50-day simple moving average of $625.37 and a 200 day simple moving average of $631.56. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The firm has a market capitalization of $177.95 billion, a price-to-earnings ratio of 58.72, a P/E/G ratio of 3.65 and a beta of 1.23.

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

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.90 per share. The ex-dividend date was Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. Intuit’s payout ratio is presently 33.21%.

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.