MJP Associates Inc. ADV Has $1.12 Million Stake in Intuit Inc. (NASDAQ:INTU)

MJP Associates Inc. ADV boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 9.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,700 shares of the software maker’s stock after buying an additional 153 shares during the period. MJP Associates Inc. ADV’s holdings in Intuit were worth $1,117,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Austin Private Wealth LLC grew its position in shares of Intuit by 5.1% during the 2nd quarter. Austin Private Wealth LLC now owns 945 shares of the software maker’s stock worth $621,000 after buying an additional 46 shares during the period. Curated Wealth Partners LLC raised its holdings in Intuit by 193.6% in the second quarter. Curated Wealth Partners LLC now owns 1,251 shares of the software maker’s stock worth $822,000 after purchasing an additional 2,588 shares during the period. Jacobs & Co. CA boosted its position in shares of Intuit by 4.6% during the second quarter. Jacobs & Co. CA now owns 12,243 shares of the software maker’s stock worth $8,046,000 after purchasing an additional 543 shares in the last quarter. Wealth Management Partners LLC grew its holdings in shares of Intuit by 4.8% in the 2nd quarter. Wealth Management Partners LLC now owns 637 shares of the software maker’s stock valued at $419,000 after buying an additional 29 shares during the period. Finally, JGP Wealth Management LLC increased its position in shares of Intuit by 1.9% in the 2nd quarter. JGP Wealth Management LLC now owns 22,476 shares of the software maker’s stock valued at $14,771,000 after buying an additional 417 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Trading Up 0.7 %

Shares of INTU traded up $4.08 during mid-day trading on Friday, reaching $630.20. The company’s stock had a trading volume of 802,793 shares, compared to its average volume of 1,328,678. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The stock has a market cap of $176.17 billion, a PE ratio of 58.14, a P/E/G ratio of 3.14 and a beta of 1.23. The company’s fifty day moving average price is $624.76 and its two-hundred day moving average price is $633.70. 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 posted its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $6.65 billion. Intuit’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $7.80 earnings per share. On average, analysts predict that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently announced 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 of this dividend was Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. Intuit’s dividend payout ratio (DPR) is 33.21%.

Analyst Ratings Changes

INTU has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Bank of America cut their price target on shares of Intuit from $760.00 to $730.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Piper Sandler reissued an “overweight” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, July 12th. Royal Bank of Canada initiated coverage on shares of Intuit in a research report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective on the stock. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Monday, May 27th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $694.27.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 14,748 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the completion of the transaction, the insider now owns 6,701,721 shares of the company’s stock, valued at $3,802,556,495.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Intuit news, EVP Mark P. Notarainni sold 465 shares of Intuit stock in a transaction 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 owns 869 shares in the company, valued at $525,380.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 14,748 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $567.40, for a total value of $8,368,015.20. Following the completion of the sale, the insider now directly owns 6,701,721 shares in the company, valued at $3,802,556,495.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,963 shares of company stock valued at $114,442,445. Corporate insiders own 2.90% of the company’s stock.

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.