PFG Investments LLC Has $573,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

PFG Investments LLC boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 5.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 917 shares of the software maker’s stock after acquiring an additional 44 shares during the period. PFG Investments LLC’s holdings in Intuit were worth $573,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Glenview Trust co grew its stake in shares of Intuit by 1.9% in the 3rd quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock worth $527,000 after acquiring an additional 19 shares in the last quarter. Verity Asset Management Inc. grew its position in Intuit by 2.5% during the third quarter. Verity Asset Management Inc. now owns 769 shares of the software maker’s stock valued at $393,000 after buying an additional 19 shares during the period. Steward Financial Group LLC grew its position in Intuit by 50.0% during the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock valued at $30,000 after buying an additional 20 shares during the period. Stratos Wealth Advisors LLC grew its position in Intuit by 0.9% during the third quarter. Stratos Wealth Advisors LLC now owns 2,240 shares of the software maker’s stock valued at $1,145,000 after buying an additional 20 shares during the period. Finally, Hamilton Point Investment Advisors LLC grew its position in Intuit by 2.4% during the third quarter. Hamilton Point Investment Advisors LLC now owns 862 shares of the software maker’s stock valued at $440,000 after buying an additional 20 shares during the period. Institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on INTU shares. JPMorgan Chase & Co. increased their target price on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Piper Sandler raised their target price on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Barclays lifted their price target on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. BMO Capital Markets reissued an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research report on Tuesday. Finally, Citigroup raised their price objective on Intuit from $565.00 to $651.00 and gave the company a “buy” rating in a research report on Wednesday, November 29th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average price target of $645.00.

Intuit Trading Up 1.4 %

INTU opened at $648.74 on Thursday. The firm has a market cap of $181.65 billion, a P/E ratio of 66.20, a P/E/G ratio of 3.90 and a beta of 1.22. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average of $645.76 and a 200 day moving average of $586.88.

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

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.90 per share. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 0.55%. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Laura A. Fennell sold 14,771 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $589.60, for a total transaction of $8,708,981.60. Following the completion of the transaction, the executive vice president now owns 50,030 shares in the company, valued at $29,497,688. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 14,771 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $589.60, for a total value of $8,708,981.60. Following the transaction, the executive vice president now directly owns 50,030 shares in the company, valued at approximately $29,497,688. The disclosure for this sale can be found here. Insiders sold 34,260 shares of company stock worth $20,667,475 over the last 90 days. Company insiders own 2.90% of the company’s stock.

About Intuit

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.