Sugar Maple Asset Management LLC Takes $29,000 Position in Intuit Inc. (NASDAQ:INTU)

Sugar Maple Asset Management LLC bought a new position in Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 46 shares of the software maker’s stock, valued at approximately $29,000.

A number of other hedge funds also recently bought and sold shares of INTU. Northwest Investment Counselors LLC acquired a new position in shares of Intuit during the third quarter worth approximately $27,000. Denver PWM LLC acquired a new stake in Intuit in the 3rd quarter worth $32,000. Dunhill Financial LLC raised its position in shares of Intuit by 110.3% during the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after buying an additional 32 shares during the last quarter. Groupama Asset Managment grew its position in Intuit by 10.6% during the third quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock worth $47,000 after buying an additional 720 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new position in Intuit during the second quarter valued at about $49,000. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction 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 approximately $1,154,337.92. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock valued at $188,992,187 in the last 90 days. 2.68% of the stock is owned by insiders.

Intuit Price Performance

Shares of INTU stock opened at $609.41 on Wednesday. The firm’s 50 day moving average price is $644.23 and its two-hundred day moving average price is $636.37. The stock has a market cap of $170.59 billion, a PE ratio of 59.17, a PEG ratio of 2.98 and a beta of 1.25. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results 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. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the company earned $1.14 EPS. The firm’s revenue was up 10.2% on a year-over-year basis. As a group, analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Oppenheimer upped their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Barclays dropped their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and set a $765.00 price objective on shares of Intuit in a report on Friday, January 10th. Finally, Jefferies Financial Group increased their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit 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.