First Trust Advisors LP Boosts Stake in Intuit Inc. (NASDAQ:INTU)

First Trust Advisors LP increased its position in shares of Intuit Inc. (NASDAQ:INTUFree Report) by 10.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 335,365 shares of the software maker’s stock after buying an additional 31,294 shares during the quarter. First Trust Advisors LP owned about 0.12% of Intuit worth $209,613,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in INTU. V Square Quantitative Management LLC raised its position in Intuit by 18.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock valued at $1,558,000 after purchasing an additional 482 shares during the last quarter. Parnassus Investments LLC boosted its stake in shares of Intuit by 119.0% during the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after buying an additional 727,185 shares during the period. Maryland State Retirement & Pension System increased its position in Intuit by 1.1% in the 4th quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker’s stock valued at $13,293,000 after acquiring an additional 226 shares during the period. Glenmede Trust Co. NA raised its stake in Intuit by 12.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after acquiring an additional 2,074 shares during the last quarter. Finally, Hixon Zuercher LLC purchased a new stake in Intuit during the 4th quarter valued at approximately $1,292,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Up 0.4 %

Shares of INTU opened at $574.27 on Thursday. Intuit Inc. has a fifty-two week low of $419.30 and a fifty-two week high of $676.62. The stock has a fifty day moving average of $625.21 and a two-hundred day moving average of $623.75. 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 company has a market capitalization of $160.54 billion, a PE ratio of 52.98, a price-to-earnings-growth ratio of 3.27 and a beta of 1.21.

Intuit (NASDAQ:INTUGet Free Report) last issued its earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The business had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.65 billion. During the same quarter last year, the firm posted $7.80 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, analysts forecast that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.63%. Intuit’s dividend payout ratio (DPR) is currently 33.21%.

Insider Activity at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the executive vice president now directly owns 869 shares in the company, valued at approximately $525,380.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,908 shares of company stock worth $54,521,562. 2.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Stifel Nicolaus cut their price target on Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Piper Sandler lifted their target price on shares of Intuit from $750.00 to $760.00 and gave the company an “overweight” rating in a report on Friday, May 24th. Morgan Stanley increased their price target on shares of Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. UBS Group boosted their target price on Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research report on Monday, May 20th. Finally, Barclays raised their price target on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $679.41.

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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.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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