358 Shares in Intuit Inc. (NASDAQ:INTU) Bought by Successful Portfolios LLC

Successful Portfolios LLC purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 358 shares of the software maker’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Intuit during the 4th quarter worth approximately $1,173,468,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of Intuit by 118,345.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,088,194 shares of the software maker’s stock valued at $812,767,000 after buying an additional 2,086,431 shares during the period. Morgan Stanley raised its holdings in Intuit by 42.5% during the fourth quarter. Morgan Stanley now owns 3,444,913 shares of the software maker’s stock worth $1,340,830,000 after purchasing an additional 1,027,752 shares during the last quarter. Parnassus Investments LLC increased its position in Intuit by 42,268.5% during the third quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock worth $312,161,000 after buying an additional 609,512 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Intuit by 61.5% in the third quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock valued at $690,244,000 after purchasing an additional 514,259 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the transaction, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Insiders sold a total of 34,260 shares of company stock valued at $20,667,475 in the last three months. 2.90% of the stock is owned by corporate insiders.

Intuit Stock Performance

Shares of Intuit stock traded up $1.26 during midday trading on Thursday, hitting $650.00. The company had a trading volume of 1,157,969 shares, compared to its average volume of 1,243,499. The stock has a market cap of $182 billion, a price-to-earnings ratio of 66.20, a PEG ratio of 3.90 and a beta of 1.22. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $645.76 and a 200 day simple moving average of $586.88. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. Intuit’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the firm posted $1.05 EPS. As a group, analysts predict that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be issued a $0.90 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.55%. Intuit’s dividend payout ratio (DPR) is currently 36.73%.

Analysts Set New Price Targets

INTU has been the subject of a number of analyst reports. Citigroup increased their price target on Intuit from $565.00 to $651.00 and gave the company a “buy” rating in a report on Wednesday, November 29th. Piper Sandler lifted their price target on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Barclays raised their target price on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Morgan Stanley raised their target price on Intuit from $525.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday, November 29th. Finally, Evercore ISI lifted their price objective on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $645.00.

Intuit Company 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.