Simon Quick Advisors LLC Has $866,000 Stock Position in Intuit Inc. (NASDAQ:INTU)

Simon Quick Advisors LLC raised its stake in shares of Intuit Inc. (NASDAQ:INTUFree Report) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,386 shares of the software maker’s stock after purchasing an additional 51 shares during the quarter. Simon Quick Advisors LLC’s holdings in Intuit were worth $866,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in INTU. NewSquare Capital LLC acquired a new stake in Intuit during the third quarter valued at approximately $25,000. Cape Investment Advisory Inc. bought a new position in shares of Intuit in the third quarter valued at approximately $26,000. Steward Financial Group LLC raised its stake in shares of Intuit by 50.0% in the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock valued at $30,000 after acquiring an additional 20 shares during the last quarter. Aspire Private Capital LLC raised its stake in shares of Intuit by 144.4% in the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock valued at $34,000 after acquiring an additional 39 shares during the last quarter. Finally, BluePath Capital Management LLC bought a new position in shares of Intuit in the third quarter valued at approximately $43,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 21st. Susquehanna boosted their price objective on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Stifel Nicolaus boosted their price objective on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. upped their target price on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Finally, Piper Sandler upped their target price on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $641.52.

Read Our Latest Stock Analysis on Intuit

Insider Activity

In other news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,260 shares of company stock valued at $20,667,475. Insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Shares of Intuit stock opened at $643.74 on Monday. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market capitalization of $180.25 billion, a P/E ratio of 65.69, a P/E/G ratio of 3.92 and a beta of 1.22. The company’s 50 day moving average price is $644.48 and its two-hundred day moving average price is $585.65.

Intuit (NASDAQ:INTUGet Free Report) last issued its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the business posted $1.05 earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. On average, equities analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Tuesday, April 9th. Intuit’s payout ratio is currently 36.73%.

About Intuit

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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