Mather Group LLC. Boosts Stock Position in Intuit Inc. (NASDAQ:INTU)

Mather Group LLC. boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 15.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,998 shares of the software maker’s stock after purchasing an additional 399 shares during the quarter. Mather Group LLC.’s holdings in Intuit were worth $1,949,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of INTU. DiNuzzo Private Wealth Inc. bought a new position in shares of Intuit during the fourth quarter valued at approximately $25,000. West Branch Capital LLC lifted its position in shares of Intuit by 79.2% during the first quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after purchasing an additional 19 shares during the last quarter. MCF Advisors LLC boosted its stake in shares of Intuit by 119.0% during the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after purchasing an additional 25 shares during the period. Wetzel Investment Advisors Inc. bought a new position in shares of Intuit in the fourth quarter worth about $38,000. Finally, Sachetta LLC bought a new stake in Intuit during the 4th quarter valued at about $39,000. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ INTU traded up $9.32 during mid-day trading on Tuesday, hitting $612.29. The stock had a trading volume of 1,325,760 shares, compared to its average volume of 1,335,449. The firm has a market cap of $171.16 billion, a PE ratio of 56.48, a PEG ratio of 3.14 and a beta of 1.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. The company has a 50 day moving average of $621.95 and a two-hundred day moving average of $634.03. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. The business 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%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the company earned $7.80 earnings per share. Research analysts predict that Intuit Inc. will post 11.72 EPS for the current fiscal year.

Intuit Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on INTU shares. Wells Fargo & Company raised their target price on shares of Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. UBS Group increased their price target on Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research report on Monday, May 20th. Stifel Nicolaus decreased their price objective on Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a report on Friday, May 24th. Jefferies Financial Group reiterated a “buy” rating and set a $770.00 target price on shares of Intuit in a report on Thursday, June 13th. Finally, Piper Sandler restated an “overweight” rating and issued a $760.00 price target on shares of Intuit in a report on Friday, July 12th. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $694.27.

Insider Activity at Intuit

In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of Intuit stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the transaction, the chief financial officer now owns 3,333 shares in the company, valued at approximately $2,170,682.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of Intuit stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the transaction, the chief financial officer now owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark P. Notarainni sold 965 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total transaction of $628,215.00. Following the sale, the executive vice president now directly owns 1,020 shares in the company, valued at $664,020. The disclosure for this sale can be found here. Insiders sold 195,963 shares of company stock worth $114,442,445 over the last three months. Company insiders own 2.90% of the company’s stock.

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.