Intuit Inc. (NASDAQ:INTU) Shares Bought by Simon Quick Advisors LLC

Simon Quick Advisors LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 12.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,865 shares of the software maker’s stock after acquiring an additional 202 shares during the period. Simon Quick Advisors LLC’s holdings in Intuit were worth $1,172,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Bourgeon Capital Management LLC acquired a new position in Intuit during the 4th quarter worth $720,000. Mitsubishi UFJ Asset Management UK Ltd. boosted its holdings in shares of Intuit by 200.0% in the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 2,100 shares of the software maker’s stock valued at $1,320,000 after buying an additional 1,400 shares during the period. Mogy Joel R Investment Counsel Inc. boosted its holdings in shares of Intuit by 0.6% in the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 71,986 shares of the software maker’s stock valued at $45,243,000 after buying an additional 414 shares during the period. Atomi Financial Group Inc. boosted its holdings in shares of Intuit by 11.3% in the 4th quarter. Atomi Financial Group Inc. now owns 2,532 shares of the software maker’s stock valued at $1,591,000 after buying an additional 257 shares during the period. Finally, Transform Wealth LLC boosted its holdings in shares of Intuit by 13.8% in the 4th quarter. Transform Wealth LLC now owns 885 shares of the software maker’s stock valued at $556,000 after buying an additional 107 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Performance

Shares of INTU opened at $609.41 on Wednesday. The firm’s 50 day moving average is $644.23 and its 200-day moving average is $636.37. The stock has a market capitalization of $170.59 billion, a P/E ratio of 59.17, a P/E/G ratio of 2.98 and a beta of 1.25. 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 12-month low of $557.29 and a 12-month high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 EPS. Equities research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s payout ratio is presently 40.39%.

Insider Activity at Intuit

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the sale, the executive vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction that occurred on Friday, January 10th. The shares were 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 owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 293,014 shares of company stock valued at $188,992,187. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on INTU. Piper Sandler reaffirmed an “overweight” rating and issued a $765.00 price target on shares of Intuit in a report on Friday, January 10th. JPMorgan Chase & Co. lifted their price target on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research report on Wednesday, January 15th. Stifel Nicolaus cut their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $726.53.

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.