Mutual of America Capital Management LLC Lowers Stock Position in Intuit Inc. (NASDAQ:INTU)

Mutual of America Capital Management LLC cut its position in shares of Intuit Inc. (NASDAQ:INTU) by 3.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 38,497 shares of the software maker’s stock after selling 1,184 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Intuit were worth $23,907,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sather Financial Group Inc lifted its position in shares of Intuit by 0.7% during the 3rd quarter. Sather Financial Group Inc now owns 71,623 shares of the software maker’s stock worth $44,478,000 after buying an additional 508 shares in the last quarter. Schear Investment Advisers LLC grew its holdings in shares of Intuit by 6.1% in the third quarter. Schear Investment Advisers LLC now owns 1,766 shares of the software maker’s stock valued at $1,097,000 after acquiring an additional 102 shares in the last quarter. Turtle Creek Wealth Advisors LLC lifted its holdings in Intuit by 3.4% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 9,758 shares of the software maker’s stock worth $6,060,000 after acquiring an additional 325 shares during the period. Comgest Global Investors S.A.S. lifted its holdings in Intuit by 2.6% during the third quarter. Comgest Global Investors S.A.S. now owns 549,641 shares of the software maker’s stock worth $341,327,000 after acquiring an additional 13,794 shares during the period. Finally, Natixis Advisors LLC boosted its position in Intuit by 5.2% in the third quarter. Natixis Advisors LLC now owns 404,536 shares of the software maker’s stock worth $251,216,000 after purchasing an additional 19,854 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Performance

NASDAQ INTU opened at $687.87 on Friday. The company’s 50 day simple moving average is $633.08 and its two-hundred day simple moving average is $630.09. The stock has a market capitalization of $192.80 billion, a PE ratio of 65.82, a P/E/G ratio of 3.36 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. Intuit Inc. has a 1 year low of $552.68 and a 1 year high of $714.78.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the company earned $0.40 earnings per share. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. Analysts predict that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.60%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. Intuit’s dividend payout ratio is 39.81%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on INTU. Piper Sandler reiterated an “overweight” rating and set a $768.00 target price on shares of Intuit in a research note on Friday, September 27th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Jefferies Financial Group increased their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Susquehanna reissued a “positive” rating and issued a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $739.24.

Insider Buying and Selling

In other news, insider Scott D. Cook sold 2,461 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This represents a 0.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the sale, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This represents a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,297 shares of company stock worth $35,220,046. Insiders own 2.90% of the company’s stock.

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.