MGO One Seven LLC boosted its holdings in Intuit Inc. (NASDAQ:INTU – Free Report) by 36.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 987 shares of the software maker’s stock after buying an additional 266 shares during the quarter. MGO One Seven LLC’s holdings in Intuit were worth $440,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. HHM Wealth Advisors LLC bought a new position in Intuit in the first quarter valued at about $25,000. Activest Wealth Management bought a new position in Intuit in the first quarter valued at about $27,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Intuit in the first quarter valued at about $29,000. Bogart Wealth LLC raised its position in Intuit by 86.8% in the first quarter. Bogart Wealth LLC now owns 71 shares of the software maker’s stock valued at $32,000 after purchasing an additional 33 shares during the last quarter. Finally, Freedom Wealth Alliance LLC bought a new position in Intuit in the fourth quarter valued at about $34,000. 82.51% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
INTU has been the subject of several research reports. KeyCorp increased their target price on Intuit from $485.00 to $525.00 in a research report on Tuesday, July 18th. Bank of America raised their price objective on Intuit from $500.00 to $530.00 in a research report on Wednesday, June 14th. Piper Sandler lowered their price objective on Intuit from $510.00 to $497.00 in a research report on Wednesday, May 24th. BMO Capital Markets raised their price objective on Intuit from $485.00 to $560.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Atlantic Securities initiated coverage on Intuit in a research report on Monday, April 24th. They set an “overweight” rating and a $530.00 price objective for the company. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $503.76.
Intuit Trading Up 1.6 %
Shares of Intuit stock opened at $505.80 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.51 and a current ratio of 1.51. Intuit Inc. has a 52 week low of $352.63 and a 52 week high of $514.14. The stock has a 50 day moving average price of $472.79 and a two-hundred day moving average price of $441.88. The stock has a market capitalization of $141.67 billion, a PE ratio of 63.86, a price-to-earnings-growth ratio of 3.20 and a beta of 1.20.
Intuit (NASDAQ:INTU – Get Free Report) last announced its earnings results on Tuesday, May 23rd. The software maker reported $8.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.30 by $1.62. The company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $6.09 billion. Intuit had a return on equity of 16.50% and a net margin of 15.91%. Intuit’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.70 earnings per share. As a group, equities analysts anticipate that Intuit Inc. will post 9.64 earnings per share for the current fiscal year.
Intuit Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 18th. Investors of record on Monday, July 10th were given a dividend of $0.78 per share. The ex-dividend date was Friday, July 7th. This represents a $3.12 annualized dividend and a dividend yield of 0.62%. Intuit’s payout ratio is 39.39%.
Insider Buying and Selling
In related news, EVP James Alexander Chriss sold 563 shares of Intuit stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $418.40, for a total transaction of $235,559.20. Following the sale, the executive vice president now directly owns 409 shares in the company, valued at $171,125.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP James Alexander Chriss sold 563 shares of Intuit stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $418.40, for a total transaction of $235,559.20. Following the sale, the executive vice president now directly owns 409 shares in the company, valued at $171,125.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michelle M. Clatterbuck sold 1,412 shares of Intuit stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $452.74, for a total value of $639,268.88. Following the sale, the chief financial officer now owns 1,350 shares in the company, valued at $611,199. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,422 shares of company stock worth $25,405,260. 3.18% of the stock is owned by company insiders.
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 ProConnect.
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