Ycg LLC Purchases 49 Shares of Intuit Inc. (NASDAQ:INTU)

Ycg LLC raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,489 shares of the software maker’s stock after acquiring an additional 49 shares during the quarter. Intuit makes up 3.3% of Ycg LLC’s portfolio, making the stock its 13th largest holding. Ycg LLC’s holdings in Intuit were worth $40,411,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LGT Financial Advisors LLC purchased a new stake in Intuit in the 2nd quarter worth $25,000. Cultivar Capital Inc. purchased a new stake in Intuit in the 2nd quarter worth $26,000. West Branch Capital LLC boosted its holdings in shares of Intuit by 79.2% during the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after purchasing an additional 19 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of Intuit in the second quarter worth about $35,000. Finally, Sachetta LLC purchased a new position in Intuit during the 4th quarter valued at approximately $39,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INTU has been the subject of a number of recent research reports. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Saturday, August 31st. Piper Sandler reissued an “overweight” rating and set a $768.00 target price (up previously from $760.00) on shares of Intuit in a research report on Friday, August 23rd. JPMorgan Chase & Co. raised their target price on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Susquehanna reissued a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Finally, Barclays dropped their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average price target of $720.37.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $567.75, for a total transaction of $42,581,250.00. Following the transaction, the insider now directly owns 6,626,721 shares in the company, valued at approximately $3,762,320,847.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Intuit news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $567.75, for a total value of $42,581,250.00. Following the completion of the transaction, the insider now owns 6,626,721 shares of the company’s stock, valued at $3,762,320,847.75. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Sandeep Aujla sold 1,061 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the transaction, the chief financial officer now directly owns 3,333 shares in the company, valued at $2,170,682.91. The disclosure for this sale can be found here. Insiders sold a total of 116,308 shares of company stock worth $67,651,926 over the last three months. Corporate insiders own 2.90% of the company’s stock.

Intuit Stock Down 1.0 %

Intuit stock traded down $6.36 during mid-day trading on Friday, reaching $615.12. 999,734 shares of the company were exchanged, compared to its average volume of 1,330,498. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62. The business has a fifty day moving average of $638.42 and a 200 day moving average of $632.34. The firm has a market cap of $171.95 billion, a P/E ratio of 56.75, a PEG ratio of 3.08 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.50 and a current ratio of 1.29.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 earnings per share. Research analysts anticipate that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is 38.38%.

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.