Cooper Financial Group Purchases 82 Shares of Intuit Inc. (NASDAQ:INTU)

Cooper Financial Group grew its position in Intuit Inc. (NASDAQ:INTUGet Rating) by 16.0% in the second quarter, Holdings Channel.com reports. The fund owned 593 shares of the software maker’s stock after buying an additional 82 shares during the period. Cooper Financial Group’s holdings in Intuit were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of INTU. Segall Bryant & Hamill LLC boosted its position in Intuit by 0.7% during the 4th quarter. Segall Bryant & Hamill LLC now owns 2,601 shares of the software maker’s stock worth $1,672,000 after acquiring an additional 19 shares during the last quarter. FineMark National Bank & Trust increased its stake in Intuit by 2.1% in the 4th quarter. FineMark National Bank & Trust now owns 959 shares of the software maker’s stock valued at $617,000 after buying an additional 20 shares during the last quarter. Contravisory Investment Management Inc. lifted its position in Intuit by 3.4% during the 1st quarter. Contravisory Investment Management Inc. now owns 704 shares of the software maker’s stock worth $339,000 after buying an additional 23 shares in the last quarter. RB Capital Management LLC grew its holdings in shares of Intuit by 1.0% in the 4th quarter. RB Capital Management LLC now owns 2,445 shares of the software maker’s stock valued at $1,572,000 after acquiring an additional 24 shares in the last quarter. Finally, BlueSky Wealth Advisors LLC increased its position in shares of Intuit by 3.2% in the first quarter. BlueSky Wealth Advisors LLC now owns 779 shares of the software maker’s stock valued at $375,000 after acquiring an additional 24 shares during the last quarter. 83.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Laura A. Fennell sold 10,000 shares of the company’s stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $392.39, for a total transaction of $3,923,900.00. Following the completion of the sale, the executive vice president now directly owns 28,717 shares in the company, valued at approximately $11,268,263.63. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Laura A. Fennell sold 10,000 shares of Intuit stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $392.39, for a total transaction of $3,923,900.00. Following the sale, the executive vice president now directly owns 28,717 shares of the company’s stock, valued at approximately $11,268,263.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Alexander Chriss sold 1,071 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $462.09, for a total transaction of $494,898.39. Following the completion of the transaction, the executive vice president now directly owns 1,003 shares of the company’s stock, valued at approximately $463,476.27. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,108 shares of company stock worth $22,650,291. Insiders own 3.27% of the company’s stock.

Intuit Stock Performance

INTU opened at $423.00 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.39 and a current ratio of 1.39. Intuit Inc. has a 52-week low of $339.36 and a 52-week high of $716.86. The firm has a market cap of $119.23 billion, a P/E ratio of 58.34, a price-to-earnings-growth ratio of 2.91 and a beta of 1.19. The business’s fifty day moving average is $440.48 and its 200-day moving average is $430.28.

Intuit (NASDAQ:INTUGet Rating) last released its earnings results on Tuesday, August 23rd. The software maker reported $1.10 EPS for the quarter, beating the consensus estimate of $0.98 by $0.12. Intuit had a net margin of 16.23% and a return on equity of 16.47%. During the same period last year, the company posted $1.28 EPS. Sell-side analysts expect that Intuit Inc. will post 9.1 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 18th. Shareholders of record on Monday, October 10th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Thursday, October 6th. This is an increase from Intuit’s previous quarterly dividend of $0.68. Intuit’s dividend payout ratio (DPR) is currently 37.52%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on INTU. CICC Research began coverage on Intuit in a research note on Monday. They issued a “market perform” rating for the company. Piper Sandler boosted their price objective on shares of Intuit from $500.00 to $553.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 24th. KeyCorp lifted their price target on Intuit from $475.00 to $525.00 and gave the stock an “overweight” rating in a report on Wednesday, August 24th. Oppenheimer boosted their target price on Intuit from $476.00 to $516.00 and gave the stock an “outperform” rating in a report on Wednesday, August 24th. Finally, Evercore ISI lifted their price objective on shares of Intuit from $500.00 to $601.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 24th. Two investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $570.61.

Intuit Company Profile

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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 ProConnect.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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