Intuit Inc. (NASDAQ:INTU) Shares Acquired by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC grew its holdings in Intuit Inc. (NASDAQ:INTU) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,162 shares of the software maker’s stock after acquiring an additional 4,557 shares during the period. Commonwealth Equity Services LLC’s holdings in Intuit were worth $39,479,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of INTU. Parnassus Investments LLC grew its stake in shares of Intuit by 42,268.5% during the third quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock worth $312,161,000 after purchasing an additional 609,512 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Intuit by 61.5% during the third quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock worth $690,244,000 after purchasing an additional 514,259 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Intuit by 60,534.9% during the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock worth $295,609,000 after purchasing an additional 472,172 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Intuit by 9.5% during the fourth quarter. Fisher Asset Management LLC now owns 3,114,957 shares of the software maker’s stock worth $1,946,943,000 after purchasing an additional 270,414 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Intuit by 5.0% during the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock worth $2,879,982,000 after purchasing an additional 266,803 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intuit news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the transaction, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock valued at $3,117,156 in the last quarter. 2.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on INTU. Piper Sandler boosted their price target on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Susquehanna boosted their price target on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. Mizuho boosted their price target on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Tuesday, April 30th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $700.00 price target on shares of Intuit in a research report on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $650.23.

Intuit Trading Up 2.5 %

NASDAQ:INTU opened at $629.27 on Friday. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a fifty day moving average price of $637.56 and a two-hundred day moving average price of $605.68. The stock has a market capitalization of $176.20 billion, a price-to-earnings ratio of 64.21, a PEG ratio of 3.83 and a beta of 1.22.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the prior year, the company posted $1.05 EPS. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were given a dividend of $0.90 per share. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. Intuit’s payout ratio is 36.73%.

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.