HighPoint Advisor Group LLC Takes $2.81 Million Position in Intuit Inc. (NASDAQ:INTU)

HighPoint Advisor Group LLC bought a new stake in Intuit Inc. (NASDAQ:INTUFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,389 shares of the software maker’s stock, valued at approximately $2,805,000.

A number of other hedge funds also recently modified their holdings of INTU. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Intuit during the fourth quarter worth $25,000. MCF Advisors LLC increased its position in Intuit by 119.0% during 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 during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Intuit during the fourth quarter worth $38,000. Sachetta LLC acquired a new position in Intuit during the fourth quarter worth $39,000. Finally, Webster Bank N. A. acquired a new position in Intuit during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

INTU traded up $3.04 during midday trading on Tuesday, reaching $605.56. 122,924 shares of the company’s stock were exchanged, compared to its average volume of 1,311,474. The firm has a market capitalization of $169.28 billion, a price-to-earnings ratio of 55.58, a price-to-earnings-growth ratio of 3.41 and a beta of 1.21. 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 Inc. has a one year low of $442.74 and a one year high of $676.62. The business has a 50-day simple moving average of $616.68 and a two-hundred day simple moving average of $625.12.

Intuit (NASDAQ:INTUGet Free Report) last announced its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. The firm had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $7.80 earnings per share. As a group, research analysts predict that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s dividend payout ratio is 33.21%.

Analyst Ratings Changes

INTU has been the topic of several research analyst reports. KeyCorp raised their price target on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Evercore ISI raised their price target on Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Piper Sandler raised their price target on Intuit from $750.00 to $760.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. JPMorgan Chase & Co. raised their price target on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Finally, Stifel Nicolaus lowered their price target on Intuit from $720.00 to $690.00 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 nineteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $679.41.

Get Our Latest Research Report on Intuit

Insider Activity

In other news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on 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 transaction, the insider now owns 6,791,469 shares of the company’s stock, valued at approximately $4,060,279,741.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,217 shares of company stock worth $113,301,418. Insiders own 2.90% of the company’s stock.

Intuit Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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