Empirical Finance LLC Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

Empirical Finance LLC increased its holdings in Intuit Inc. (NASDAQ:INTU) by 3.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,004 shares of the software maker’s stock after buying an additional 340 shares during the quarter. Empirical Finance LLC’s holdings in Intuit were worth $6,503,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. purchased a new position in shares of Intuit in the fourth quarter worth $25,000. West Branch Capital LLC lifted its holdings in shares of Intuit by 79.2% in the first quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after buying an additional 19 shares in the last quarter. MCF Advisors LLC lifted its holdings in shares of Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after buying an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new position in shares of Intuit in the fourth quarter worth $38,000. Finally, Sachetta LLC purchased a new position in shares of Intuit in the fourth quarter worth $39,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus reduced their price target on shares of Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Susquehanna reduced their price target on shares of Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a research report on Friday, May 24th. Piper Sandler restated an “overweight” rating and issued a $760.00 price target on shares of Intuit in a research report on Friday. Citigroup boosted their price target on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Bank of America reduced their price target on shares of Intuit from $760.00 to $730.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Five research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $687.22.

Intuit Stock Up 2.0 %

NASDAQ:INTU traded up $12.54 during mid-day trading on Friday, reaching $641.95. The company’s stock had a trading volume of 1,037,860 shares, compared to its average volume of 1,340,229. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The stock has a fifty day moving average of $623.32 and a 200-day moving average of $630.37. The firm has a market capitalization of $179.46 billion, a PE ratio of 58.06, a price-to-earnings-growth ratio of 3.62 and a beta of 1.23. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, topping 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 company had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.65 billion. During the same period in the prior year, the firm earned $7.80 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities research analysts forecast that Intuit Inc. will post 11.72 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s dividend payout ratio is currently 33.21%.

Insider Activity

In other news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total value of $44,838,750.00. Following the sale, the insider now directly owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Scott D. Cook sold 27,309 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the sale, the insider now directly owns 6,524,412 shares in the company, valued at approximately $3,870,020,221.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the sale, the insider now owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 195,963 shares of company stock worth $114,442,445. Corporate insiders own 2.90% of the company’s stock.

About Intuit

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.