Toroso Investments LLC raised its stake in shares of Intuit Inc. (NASDAQ:INTU – Free Report) by 19.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,646 shares of the software maker’s stock after buying an additional 922 shares during the period. Toroso Investments LLC’s holdings in Intuit were worth $2,517,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. HHM Wealth Advisors LLC bought a new stake in Intuit during the first quarter worth approximately $25,000. Raleigh Capital Management Inc. raised its stake in shares of Intuit by 100.0% in the 1st quarter. Raleigh Capital Management Inc. now owns 58 shares of the software maker’s stock worth $26,000 after buying an additional 29 shares in the last quarter. Activest Wealth Management acquired a new stake in shares of Intuit in the first quarter valued at $27,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Intuit during the first quarter valued at about $29,000. Finally, Barrett & Company Inc. acquired a new position in Intuit during the first quarter worth about $29,000. 82.63% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Intuit
In other news, EVP Marianna Tessel sold 8,702 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $552.63, for a total transaction of $4,808,986.26. Following the transaction, the executive vice president now owns 32,171 shares in the company, valued at approximately $17,778,659.73. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Marianna Tessel sold 8,702 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $552.63, for a total transaction of $4,808,986.26. Following the completion of the sale, the executive vice president now owns 32,171 shares in the company, valued at approximately $17,778,659.73. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 550 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $549.42, for a total value of $302,181.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,054 shares in the company, valued at $1,128,508.68. The disclosure for this sale can be found here. Insiders sold 90,927 shares of company stock worth $44,218,147 over the last ninety days. 3.18% of the stock is currently owned by insiders.
Intuit Trading Up 1.0 %
Intuit (NASDAQ:INTU – Get Free Report) last released its quarterly earnings data on Thursday, August 24th. The software maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.22. Intuit had a return on equity of 16.61% and a net margin of 16.59%. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter last year, the firm earned $0.22 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities analysts expect that Intuit Inc. will post 11.25 EPS for the current fiscal year.
Intuit Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Monday, October 9th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, October 5th. This is a positive change from Intuit’s previous quarterly dividend of $0.78. Intuit’s dividend payout ratio (DPR) is presently 42.65%.
Analysts Set New Price Targets
Several research firms have recently weighed in on INTU. Morgan Stanley raised their price objective on shares of Intuit from $520.00 to $525.00 in a research report on Wednesday, May 24th. Credit Suisse Group lifted their price target on shares of Intuit from $500.00 to $570.00 and gave the stock an “outperform” rating in a research report on Friday, August 25th. Piper Sandler increased their price objective on Intuit from $528.00 to $642.00 and gave the company an “overweight” rating in a research report on Monday. Wells Fargo & Company raised their price objective on Intuit from $525.00 to $550.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 22nd. Finally, Stifel Nicolaus boosted their target price on Intuit from $475.00 to $550.00 and gave the stock a “buy” rating in a research report on Friday, August 25th. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $551.73.
View Our Latest Stock Report on INTU
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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