Sofos Investments Inc. raised its position in Intuit Inc. (NASDAQ:INTU) by 7.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,005 shares of the software maker’s stock after acquiring an additional 213 shares during the period. Intuit makes up approximately 0.7% of Sofos Investments Inc.’s holdings, making the stock its 29th biggest holding. Sofos Investments Inc.’s holdings in Intuit were worth $1,962,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of INTU. Capital Analysts LLC acquired a new stake in shares of Intuit during the first quarter worth $27,000. Solstein Capital LLC acquired a new stake in shares of Intuit during the first quarter worth $29,000. Stonebridge Capital Advisors LLC acquired a new stake in shares of Intuit during the first quarter worth $32,000. Center for Financial Planning Inc. acquired a new stake in shares of Intuit during the first quarter worth $44,000. Finally, First Manhattan Co. acquired a new stake in shares of Intuit during the first quarter worth $44,000. Institutional investors and hedge funds own 84.42% of the company’s stock.
Shares of INTU stock traded up $3.87 on Tuesday, reaching $558.27. 12,989 shares of the company were exchanged, compared to its average volume of 1,247,170. The company has a market cap of $152.46 billion, a price-to-earnings ratio of 74.37, a P/E/G ratio of 4.82 and a beta of 1.03. The business has a 50-day moving average price of $541.46 and a 200 day moving average price of $468.39. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.94 and a current ratio of 1.94. Intuit Inc. has a 1 year low of $295.37 and a 1 year high of $582.96.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 18th. Investors of record on Monday, October 11th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, October 8th. This is a positive change from Intuit’s previous quarterly dividend of $0.59. This represents a $2.72 dividend on an annualized basis and a yield of 0.49%. Intuit’s payout ratio is presently 31.22%.
In other Intuit news, EVP Gregory N. Johnson sold 14,843 shares of the business’s stock in a transaction dated Thursday, August 26th. The shares were sold at an average price of $552.43, for a total value of $8,199,718.49. Following the transaction, the executive vice president now directly owns 1,520 shares in the company, valued at approximately $839,693.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Alexander Chriss sold 2,022 shares of the business’s stock in a transaction dated Thursday, September 2nd. The shares were sold at an average price of $562.53, for a total transaction of $1,137,435.66. Following the completion of the transaction, the executive vice president now owns 3,234 shares in the company, valued at $1,819,222.02. The disclosure for this sale can be found here. Insiders have sold 60,447 shares of company stock worth $33,808,533 over the last 90 days. 3.38% of the stock is currently owned by company insiders.
INTU has been the subject of several research reports. Mizuho lifted their price objective on shares of Intuit from $550.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, August 25th. Piper Sandler boosted their target price on shares of Intuit from $498.00 to $621.00 and gave the company an “overweight” rating in a research report on Wednesday, August 25th. Wolfe Research boosted their target price on shares of Intuit from $520.00 to $650.00 and gave the company an “outperform” rating in a research report on Wednesday, August 25th. BNP Paribas upgraded shares of Intuit from an “underperform” rating to a “neutral” rating and set a $470.00 target price for the company in a research report on Thursday, May 27th. Finally, Royal Bank of Canada boosted their target price on shares of Intuit from $490.00 to $525.00 and gave the company an “outperform” rating in a research report on Wednesday, May 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Buy” and a consensus price target of $544.55.
Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed; Consumer; and Strategic Partner. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.
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