Strategic Blueprint LLC Boosts Position in Intuit Inc. (NASDAQ:INTU)

Strategic Blueprint LLC raised its stake in Intuit Inc. (NASDAQ:INTU) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,209 shares of the software maker’s stock after purchasing an additional 42 shares during the period. Strategic Blueprint LLC’s holdings in Intuit were worth $760,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp grew its stake in Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after buying an additional 221,885 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Intuit by 1.4% in the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after acquiring an additional 80,463 shares during the period. Fisher Asset Management LLC grew its position in shares of Intuit by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after acquiring an additional 107,482 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Intuit by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock valued at $1,428,790,000 after acquiring an additional 87,517 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Intuit by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock valued at $1,048,524,000 after purchasing an additional 26,914 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on INTU. Piper Sandler reissued an “overweight” rating and set a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. Jefferies Financial Group boosted their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Oppenheimer lifted their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their price target on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $726.53.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $604.60 on Friday. The firm has a market capitalization of $169.24 billion, a price-to-earnings ratio of 58.70, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The business’s 50 day simple moving average is $633.22 and its 200-day simple moving average is $634.26. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the previous year, the business earned $1.14 earnings per share. Intuit’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were issued a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

Insiders Place Their Bets

In other news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the sale, the executive vice president now owns 30,010 shares in the company, valued at $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company’s stock.

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.