Flagship Harbor Advisors LLC Buys 73 Shares of Intuit Inc. (NASDAQ:INTU)

Flagship Harbor Advisors LLC raised its stake in Intuit Inc. (NASDAQ:INTU) by 3.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,007 shares of the software maker’s stock after acquiring an additional 73 shares during the period. Flagship Harbor Advisors LLC’s holdings in Intuit were worth $1,261,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Grimes & Company Inc. lifted its holdings in shares of Intuit by 7.0% during the 4th quarter. Grimes & Company Inc. now owns 366 shares of the software maker’s stock worth $230,000 after acquiring an additional 24 shares during the period. Linden Thomas Advisory Services LLC raised its position in Intuit by 6.1% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 7,362 shares of the software maker’s stock valued at $4,627,000 after purchasing an additional 426 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its stake in Intuit by 3.7% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 6,862 shares of the software maker’s stock worth $4,313,000 after purchasing an additional 244 shares during the last quarter. Cottonwood Capital Advisors LLC boosted its holdings in shares of Intuit by 31.0% in the 4th quarter. Cottonwood Capital Advisors LLC now owns 486 shares of the software maker’s stock valued at $305,000 after purchasing an additional 115 shares in the last quarter. Finally, Gradient Investments LLC increased its stake in shares of Intuit by 11.3% in the 4th quarter. Gradient Investments LLC now owns 29,181 shares of the software maker’s stock valued at $18,340,000 after purchasing an additional 2,960 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total value 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. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,014 shares of company stock worth $188,992,187. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Down 0.1 %

Shares of NASDAQ INTU opened at $597.95 on Monday. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company’s 50 day moving average price is $636.69 and its 200-day moving average price is $634.99. The company has a market capitalization of $167.38 billion, a P/E ratio of 58.05, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.70%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Analyst Upgrades and Downgrades

INTU has been the topic of several research analyst reports. Barclays reduced their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $765.00 price target on shares of Intuit in a report on Friday, January 10th. Scotiabank started coverage on shares of Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective for the company. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus target price of $726.53.

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.