Angeles Investment Advisors LLC Acquires 318 Shares of Intuit Inc. (NASDAQ:INTU)

Angeles Investment Advisors LLC grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 81.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 710 shares of the software maker’s stock after acquiring an additional 318 shares during the period. Angeles Investment Advisors LLC’s holdings in Intuit were worth $467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in Intuit by 3.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after purchasing an additional 16 shares during the period. Fortitude Family Office LLC grew its stake in shares of Intuit by 2.8% during the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after acquiring an additional 16 shares during the period. WASHINGTON TRUST Co increased its holdings in Intuit by 10.5% in the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after acquiring an additional 16 shares in the last quarter. Gemmer Asset Management LLC increased its holdings in Intuit by 3.7% in the 2nd quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock worth $294,000 after acquiring an additional 16 shares in the last quarter. Finally, Hohimer Wealth Management LLC raised its stake in Intuit by 0.9% during the 4th quarter. Hohimer Wealth Management LLC now owns 1,816 shares of the software maker’s stock worth $1,135,000 after acquiring an additional 17 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Performance

Shares of INTU stock opened at $655.31 on Monday. The company has a market capitalization of $183.68 billion, a P/E ratio of 60.45, a P/E/G ratio of 3.14 and a beta of 1.24. The business’s 50 day moving average is $636.63 and its two-hundred day moving average is $631.56. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the business earned $0.40 earnings per share. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. Analysts expect that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued a $1.04 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s payout ratio is 33.21%.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction that occurred 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 legal filing with the SEC, which is available at the SEC website. In other news, EVP Mark P. Notarainni sold 965 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total transaction of $628,215.00. Following the transaction, the executive vice president now directly owns 1,020 shares in the company, valued at $664,020. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 1,061 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $2,170,682.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,940 shares of company stock worth $10,721,252. 2.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Erste Group Bank reiterated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Bank of America increased their price target on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Barclays lowered their price objective on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and set a $768.00 target price (up previously from $760.00) on shares of Intuit in a research report on Friday, August 23rd. Finally, BMO Capital Markets lifted their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus target price of $720.37.

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.