Mission Wealth Management LP raised its holdings in Intuit Inc. (NASDAQ:INTU) by 41.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,440 shares of the software maker’s stock after purchasing an additional 420 shares during the period. Mission Wealth Management LP’s holdings in Intuit were worth $377,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in INTU. BlackRock Inc. increased its stake in shares of Intuit by 2.5% in the second quarter. BlackRock Inc. now owns 20,667,701 shares of the software maker’s stock worth $5,401,090,000 after buying an additional 503,291 shares during the last quarter. State Street Corp increased its position in shares of Intuit by 1.1% in the 3rd quarter. State Street Corp now owns 11,163,398 shares of the software maker’s stock worth $2,968,794,000 after purchasing an additional 121,569 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Intuit by 2.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,267,831 shares of the software maker’s stock worth $603,107,000 after purchasing an additional 49,351 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Intuit by 23.2% in the 3rd quarter. Voya Investment Management LLC now owns 1,406,961 shares of the software maker’s stock worth $374,166,000 after purchasing an additional 264,527 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Intuit by 1.5% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,207,704 shares of the software maker’s stock valued at $321,177,000 after purchasing an additional 17,312 shares in the last quarter. 86.62% of the stock is currently owned by institutional investors.
In related news, CEO Sasan K. Goodarzi sold 92,950 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $257.74, for a total value of $23,956,933.00. Following the sale, the chief executive officer now owns 133,686 shares of the company’s stock, valued at approximately $34,456,229.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Brad D. Smith sold 227,450 shares of Intuit stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $257.72, for a total transaction of $58,618,414.00. Following the completion of the sale, the chairman now owns 549,985 shares in the company, valued at $141,742,134.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 527,369 shares of company stock valued at $136,763,551. Corporate insiders own 4.09% of the company’s stock.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.16. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. Intuit had a return on equity of 42.04% and a net margin of 22.79%. The business’s revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the business posted $0.29 EPS. As a group, analysts predict that Intuit Inc. will post 6.3 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Friday, January 10th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Thursday, January 9th. Intuit’s payout ratio is 37.99%.
Several equities analysts have recently commented on the stock. Zacks Investment Research cut shares of Intuit from a “buy” rating to a “hold” rating and set a $280.00 price target on the stock. in a research report on Monday, December 30th. BidaskClub raised Intuit from a “sell” rating to a “hold” rating in a report on Saturday, January 11th. ValuEngine lowered Intuit from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. KeyCorp upped their price objective on Intuit from $305.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $300.00 target price on shares of Intuit in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. Intuit has a consensus rating of “Hold” and a consensus target price of $284.17.
Intuit Company Profile
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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