Mirabella Financial Services LLP Invests $2.39 Million in Intuit Inc. (NASDAQ:INTU)

Mirabella Financial Services LLP purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,934 shares of the software maker’s stock, valued at approximately $2,385,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hancock Whitney Corp increased its holdings in shares of Intuit by 326.9% during the third quarter. Hancock Whitney Corp now owns 18,767 shares of the software maker’s stock worth $11,654,000 after buying an additional 14,371 shares in the last quarter. Truvestments Capital LLC grew its position in Intuit by 1.5% during the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after acquiring an additional 16 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in Intuit by 5.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 4,999 shares of the software maker’s stock valued at $3,104,000 after purchasing an additional 276 shares in the last quarter. Independent Advisor Alliance raised its position in Intuit by 1.4% in the 3rd quarter. Independent Advisor Alliance now owns 8,531 shares of the software maker’s stock valued at $5,298,000 after purchasing an additional 117 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its stake in Intuit by 33.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 12,877 shares of the software maker’s stock worth $7,995,000 after purchasing an additional 3,198 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Performance

Shares of INTU stock opened at $644.50 on Monday. The company has a market capitalization of $180.49 billion, a P/E ratio of 62.15, a price-to-earnings-growth ratio of 3.13 and a beta of 1.25. 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 $634.81 and its two-hundred day moving average price is $631.19.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping 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 firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period in the prior year, the business earned $1.14 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts expect that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on INTU. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a report on Friday. Piper Sandler decreased their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research note on Friday. Jefferies Financial Group boosted their price objective on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday. Bank of America lifted their target price on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Morgan Stanley upped their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $737.44.

Insider Buying and Selling at Intuit

In other news, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares of the company’s stock, valued at approximately $12,575.20. This represents a 99.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares of the company’s stock, valued at approximately $279,010.56. This represents a 89.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,265 shares of company stock worth $35,200,125. Corporate insiders own 2.90% of the company’s stock.

About Intuit

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.