Gradient Investments LLC Boosts Stake in Intuit Inc. (NASDAQ:INTU)

Gradient Investments LLC increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 11.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,181 shares of the software maker’s stock after buying an additional 2,960 shares during the quarter. Gradient Investments LLC’s holdings in Intuit were worth $18,340,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in shares of Intuit in the third quarter valued at about $27,000. Sugar Maple Asset Management LLC purchased a new stake in Intuit in the fourth quarter valued at approximately $29,000. Denver PWM LLC acquired a new position in Intuit in the 3rd quarter worth approximately $32,000. Dunhill Financial LLC raised its position in Intuit by 110.3% during the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after buying an additional 32 shares during the last quarter. Finally, Kimelman & Baird LLC acquired a new stake in Intuit during the 2nd quarter valued at approximately $49,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

INTU has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Stifel Nicolaus decreased their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $765.00 target price on shares of Intuit in a 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 report on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their price objective on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Trading Down 0.1 %

INTU stock opened at $597.95 on Friday. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The business’s 50-day moving average is $638.48 and its 200 day moving average is $635.52. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $167.38 billion, a price-to-earnings ratio of 58.05, a PEG ratio of 3.01 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.14 earnings per share. On average, sell-side analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio is currently 40.39%.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sandeep Aujla sold 109 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the sale, the chief financial officer now owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. The trade was a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 293,014 shares of company stock valued at $188,992,187. Corporate 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.