Miracle Mile Advisors LLC Acquires 311 Shares of Intuit Inc. (NASDAQ:INTU)

Miracle Mile Advisors LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 7.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,239 shares of the software maker’s stock after purchasing an additional 311 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Intuit were worth $2,664,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. American Century Companies Inc. boosted its holdings in shares of Intuit by 10.6% during the 2nd quarter. American Century Companies Inc. now owns 51,454 shares of the software maker’s stock valued at $33,816,000 after purchasing an additional 4,913 shares during the last quarter. J.W. Cole Advisors Inc. boosted its stake in Intuit by 69.6% during the second quarter. J.W. Cole Advisors Inc. now owns 1,864 shares of the software maker’s stock valued at $1,225,000 after buying an additional 765 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in Intuit during the 2nd quarter valued at approximately $1,342,000. Angeles Investment Advisors LLC increased its stake in Intuit by 81.1% in the 2nd quarter. Angeles Investment Advisors LLC now owns 710 shares of the software maker’s stock worth $467,000 after acquiring an additional 318 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Intuit by 13.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 550,874 shares of the software maker’s stock worth $362,037,000 after acquiring an additional 63,209 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Laura A. Fennell sold 4,788 shares of Intuit stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the transaction, the executive vice president now owns 30,010 shares of the company’s stock, valued at $18,414,736.20. The trade was a 13.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now directly owns 489 shares of the company’s stock, valued at $325,664.22. The trade was a 97.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on INTU shares. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Oppenheimer boosted their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Morgan Stanley increased their price target on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Scotiabank assumed coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research note on Friday. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Price Performance

Shares of INTU stock opened at $613.22 on Tuesday. The company’s 50-day simple moving average is $649.47 and its two-hundred day simple moving average is $637.94. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company has a market capitalization of $171.65 billion, a P/E ratio of 59.54, a P/E/G ratio of 3.24 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.14 earnings per share. As a group, equities analysts anticipate that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be paid a $1.04 dividend. The ex-dividend date is Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Intuit 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.