Transcend Capital Advisors LLC Has $1.27 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Transcend Capital Advisors LLC lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 316.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,936 shares of the software maker’s stock after purchasing an additional 1,471 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Intuit were worth $1,273,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Leavell Investment Management Inc. boosted its position in Intuit by 15.4% during the 4th quarter. Leavell Investment Management Inc. now owns 994 shares of the software maker’s stock worth $621,000 after acquiring an additional 133 shares during the last quarter. Breakwater Capital Group boosted its holdings in shares of Intuit by 4.4% in the 4th quarter. Breakwater Capital Group now owns 1,026 shares of the software maker’s stock valued at $647,000 after buying an additional 43 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of Intuit by 1.9% in the 4th quarter. Private Trust Co. NA now owns 1,055 shares of the software maker’s stock valued at $659,000 after buying an additional 20 shares during the last quarter. Avitas Wealth Management LLC boosted its holdings in shares of Intuit by 38.0% in the 4th quarter. Avitas Wealth Management LLC now owns 1,216 shares of the software maker’s stock valued at $760,000 after buying an additional 335 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Intuit by 60,534.9% in the 4th quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after buying an additional 472,172 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Price Performance

Shares of INTU traded down $14.37 during trading hours on Monday, hitting $609.55. 537,672 shares of the company were exchanged, compared to its average volume of 1,327,050. The company has a market cap of $170.40 billion, a price-to-earnings ratio of 57.56, a P/E/G ratio of 3.14 and a beta of 1.23. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. The firm’s fifty day moving average is $622.03 and its 200 day moving average is $634.09.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.12 by $1.76. The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. Intuit’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $7.80 EPS. On average, equities analysts anticipate that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Wednesday, July 10th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Wednesday, July 10th. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the sale, the insider now directly owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the transaction, the insider now directly owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark P. Notarainni sold 465 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the completion of the transaction, the executive vice president now directly owns 869 shares in the company, valued at $525,380.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 195,963 shares of company stock worth $114,442,445. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on INTU. Morgan Stanley increased their price objective on Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Bank of America cut their price objective on Intuit from $760.00 to $730.00 and set a “buy” rating for the company in a report on Friday, May 24th. Piper Sandler reissued an “overweight” rating and issued a $760.00 price objective on shares of Intuit in a report on Friday, July 12th. Royal Bank of Canada initiated coverage on Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective for the company. Finally, Wells Fargo & Company increased their price target on Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $694.27.

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.