453 Shares in Intuit Inc. (NASDAQ:INTU) Acquired by MQS Management LLC

MQS Management LLC purchased a new stake in Intuit Inc. (NASDAQ:INTU) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 453 shares of the software maker’s stock, valued at approximately $294,000.

A number of other institutional investors have also recently bought and sold shares of INTU. DiNuzzo Private Wealth Inc. bought a new position in Intuit in the fourth quarter valued at approximately $25,000. West Branch Capital LLC lifted its stake in Intuit by 79.2% in the first quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after buying an additional 19 shares in the last quarter. MCF Advisors LLC lifted its stake in Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after buying an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new position in Intuit in the fourth quarter valued at approximately $38,000. Finally, Sachetta LLC bought a new position in Intuit in the fourth quarter valued at approximately $39,000. Institutional investors own 83.66% of the company’s stock.

Insider Activity

In related news, EVP Mark P. Notarainni sold 465 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the completion of the sale, the executive vice president now owns 869 shares of the company’s stock, valued at $525,380.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Mark P. Notarainni sold 465 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the completion of the sale, the executive vice president now owns 869 shares of the company’s stock, valued at $525,380.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the transaction, the insider now directly owns 6,791,469 shares of the company’s stock, valued at approximately $4,060,279,741.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,963 shares of company stock valued at $114,442,445. 2.90% of the stock is owned by company insiders.

Intuit Stock Performance

Shares of NASDAQ:INTU traded up $7.38 on Friday, hitting $633.70. The company had a trading volume of 102,918 shares, compared to its average volume of 1,325,095. The stock has a 50 day moving average price of $624.51 and a 200 day moving average price of $632.46. The stock has a market cap of $177.15 billion, a price-to-earnings ratio of 57.78, a P/E/G ratio of 3.55 and a beta of 1.23. Intuit Inc. has a 1-year low of $473.56 and a 1-year high of $676.62. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. The company had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. Intuit’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.80 earnings per share. Analysts expect that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th were given a $0.90 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. Intuit’s payout ratio is presently 33.21%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on INTU shares. KeyCorp lifted their price objective on shares of Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Royal Bank of Canada started coverage on shares of Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective on the stock. Piper Sandler reiterated an “overweight” rating and issued a $760.00 price objective on shares of Intuit in a report on Friday, July 12th. Jefferies Financial Group reiterated a “buy” rating and issued a $770.00 price objective on shares of Intuit in a report on Thursday, June 13th. Finally, StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, May 27th. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $694.27.

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.