Intuit Inc. (NASDAQ:INTU) Shares Acquired by Crescent Sterling Ltd.

Crescent Sterling Ltd. boosted its position in Intuit Inc. (NASDAQ:INTU) by 12.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 573 shares of the software maker’s stock after buying an additional 64 shares during the quarter. Crescent Sterling Ltd.’s holdings in Intuit were worth $360,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aprio Wealth Management LLC lifted its stake in shares of Intuit by 12.6% in the fourth quarter. Aprio Wealth Management LLC now owns 509 shares of the software maker’s stock worth $320,000 after acquiring an additional 57 shares in the last quarter. Czech National Bank increased its holdings in Intuit by 6.7% during the 4th quarter. Czech National Bank now owns 60,773 shares of the software maker’s stock worth $38,196,000 after purchasing an additional 3,827 shares during the last quarter. Graypoint LLC raised its position in shares of Intuit by 65.8% in the 4th quarter. Graypoint LLC now owns 4,045 shares of the software maker’s stock valued at $2,542,000 after purchasing an additional 1,606 shares in the last quarter. RMR Wealth Builders boosted its stake in shares of Intuit by 7.6% during the 4th quarter. RMR Wealth Builders now owns 2,511 shares of the software maker’s stock valued at $1,578,000 after buying an additional 177 shares during the last quarter. Finally, Tilia Fiduciary Partners Inc. grew its position in shares of Intuit by 2.0% during the fourth quarter. Tilia Fiduciary Partners Inc. now owns 3,075 shares of the software maker’s stock worth $1,933,000 after buying an additional 59 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $623.43 on Monday. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a market cap of $174.51 billion, a PE ratio of 60.53, a P/E/G ratio of 3.24 and a beta of 1.25. The stock has a 50 day simple moving average of $649.58 and a 200-day simple moving average of $638.21. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last released 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 company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the prior year, the business posted $1.14 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. Intuit’s dividend payout ratio is presently 40.39%.

Analysts Set New Price Targets

A number of research analysts have commented on INTU shares. Piper Sandler reiterated an “overweight” rating and set a $765.00 price objective on shares of Intuit in a research note on Friday. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Stifel Nicolaus lowered their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Jefferies Financial Group increased their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Morgan Stanley lifted their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $737.44.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Laura A. Fennell sold 4,788 shares of Intuit stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the transaction, the executive vice president now owns 30,010 shares in the company, valued at approximately $18,414,736.20. This trade represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 291,936 shares of company stock valued at $188,324,604 over the last quarter. Corporate insiders own 2.68% 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.