Motley Fool Asset Management LLC Raises Holdings in Intuit Inc. (NASDAQ:INTU)

Motley Fool Asset Management LLC boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 7.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,708 shares of the software maker’s stock after buying an additional 510 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Intuit were worth $4,818,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Founders Financial Securities LLC grew its holdings in Intuit by 9.6% in the third quarter. Founders Financial Securities LLC now owns 640 shares of the software maker’s stock worth $327,000 after purchasing an additional 56 shares during the last quarter. Meridian Wealth Management LLC lifted its stake in shares of Intuit by 77.3% during the third quarter. Meridian Wealth Management LLC now owns 2,340 shares of the software maker’s stock worth $1,196,000 after buying an additional 1,020 shares during the period. Boston Trust Walden Corp lifted its stake in shares of Intuit by 1.5% during the third quarter. Boston Trust Walden Corp now owns 3,683 shares of the software maker’s stock worth $1,882,000 after buying an additional 56 shares during the period. Strategic Blueprint LLC acquired a new stake in shares of Intuit during the third quarter worth $221,000. Finally, SS&H Financial Advisors Inc. acquired a new stake in shares of Intuit during the third quarter worth $652,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares in the company, valued at approximately $2,083,313.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 SEC, which is available through this link. Also, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock valued at $3,117,156 in the last 90 days. Company insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

INTU has been the subject of a number of research reports. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday. BMO Capital Markets restated an “outperform” rating and set a $700.00 target price on shares of Intuit in a research report on Tuesday, March 26th. JPMorgan Chase & Co. boosted 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. Piper Sandler upped their price objective on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Finally, Wells Fargo & Company upped their price objective on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $650.23.

Intuit Trading Down 1.4 %

Shares of Intuit stock traded down $9.10 during mid-day trading on Thursday, hitting $626.39. The stock had a trading volume of 1,241,615 shares, compared to its average volume of 1,250,544. The firm has a 50-day moving average of $640.64 and a two-hundred day moving average of $602.03. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The firm has a market cap of $175.39 billion, a P/E ratio of 63.92, a price-to-earnings-growth ratio of 3.84 and a beta of 1.21.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the prior year, the company posted $1.05 EPS. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. Sell-side analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were paid a $0.90 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. Intuit’s dividend payout ratio (DPR) is 36.73%.

Intuit 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.