JB Capital LLC Raises Position in Intuit Inc. (NASDAQ:INTU)

JB Capital LLC lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 516 shares of the software maker’s stock after acquiring an additional 22 shares during the quarter. JB Capital LLC’s holdings in Intuit were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Intech Investment Management LLC lifted its holdings in Intuit by 134.7% during the 1st quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock worth $2,991,000 after buying an additional 2,641 shares during the last quarter. GAMMA Investing LLC lifted its stake in Intuit by 33.7% during the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after purchasing an additional 968 shares during the last quarter. Harvest Portfolios Group Inc. boosted its holdings in Intuit by 5.4% in the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after purchasing an additional 1,853 shares in the last quarter. Cetera Advisors LLC increased its stake in Intuit by 33.4% in the first quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock valued at $6,895,000 after purchasing an additional 2,655 shares during the last quarter. Finally, Park Avenue Securities LLC raised its holdings in Intuit by 13.4% during the second quarter. Park Avenue Securities LLC now owns 11,257 shares of the software maker’s stock worth $7,398,000 after purchasing an additional 1,328 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Performance

NASDAQ:INTU opened at $674.15 on Friday. The company has a market cap of $188.96 billion, a P/E ratio of 64.51, a P/E/G ratio of 3.03 and a beta of 1.25. The firm’s 50 day moving average is $623.43 and its two-hundred day moving average is $626.96. Intuit Inc. has a fifty-two week low of $513.97 and a fifty-two week high of $676.62. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the firm posted $0.40 EPS. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. Analysts expect that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were issued a $1.04 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.62%. Intuit’s dividend payout ratio (DPR) is presently 39.81%.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $15,752,985.01. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Intuit news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $15,752,985.01. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock valued at $35,220,046 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $768.00 target price on shares of Intuit in a research report on Friday, September 27th. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. BMO Capital Markets upped their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Susquehanna reaffirmed a “positive” rating and set a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Finally, Bank of America boosted their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $735.71.

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.