Intuit Inc. (NASDAQ:INTU) Shares Purchased by JGP Wealth Management LLC

JGP Wealth Management LLC raised its stake in Intuit Inc. (NASDAQ:INTU) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,220 shares of the software maker’s stock after acquiring an additional 477 shares during the period. Intuit accounts for approximately 1.9% of JGP Wealth Management LLC’s portfolio, making the stock its 13th largest position. JGP Wealth Management LLC’s holdings in Intuit were worth $14,594,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new stake in Intuit during the third quarter worth approximately $27,000. Denver PWM LLC acquired a new position in Intuit during the 3rd quarter worth $32,000. Dunhill Financial LLC grew its holdings in Intuit by 110.3% during the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after acquiring an additional 32 shares in the last quarter. Groupama Asset Managment boosted its holdings in shares of Intuit by 10.6% in the 3rd quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock valued at $47,000 after buying an additional 720 shares during the period. Finally, Kimelman & Baird LLC acquired a new position in shares of Intuit in the 2nd quarter valued at about $49,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling

In related news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the transaction, the executive vice president now owns 489 shares in the company, valued at $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by corporate insiders.

Intuit Stock Performance

NASDAQ:INTU opened at $607.29 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The business has a 50 day moving average of $649.03 and a 200 day moving average of $637.60. The company has a market capitalization of $169.99 billion, a price-to-earnings ratio of 58.96, a PEG ratio of 3.07 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the previous year, the firm earned $1.14 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, January 10th. Intuit’s dividend payout ratio is currently 40.39%.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Scotiabank assumed coverage on shares of Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price for the company. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research note on Wednesday. Piper Sandler reiterated an “overweight” rating and set a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. Finally, Stifel Nicolaus lowered their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $726.53.

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.