Sivia Capital Partners LLC Acquires New Shares in Intuit Inc. (NASDAQ:INTU)

Sivia Capital Partners LLC acquired a new stake in Intuit Inc. (NASDAQ:INTU) during the 4th quarter, Holdings Channel reports. The fund acquired 532 shares of the software maker’s stock, valued at approximately $333,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Intuit by 0.5% in the third quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock valued at $12,942,784,000 after purchasing an additional 117,478 shares during the last quarter. FMR LLC raised its position in Intuit by 5.0% in the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after purchasing an additional 266,803 shares during the last quarter. Morgan Stanley raised its position in Intuit by 3.7% in the third quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock valued at $1,966,304,000 after purchasing an additional 137,198 shares during the last quarter. Wellington Management Group LLP raised its position in Intuit by 173.0% in the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after purchasing an additional 2,336,654 shares during the last quarter. Finally, Brown Advisory Inc. raised its position in Intuit by 2.3% in the fourth quarter. Brown Advisory Inc. now owns 3,548,119 shares of the software maker’s stock valued at $2,217,681,000 after purchasing an additional 80,517 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 27,309 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the completion of the transaction, the insider now owns 6,524,412 shares in the company, valued at $3,870,020,221.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Scott D. Cook sold 27,309 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the completion of the sale, the insider now directly owns 6,524,412 shares of the company’s stock, valued at $3,870,020,221.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Insiders sold a total of 194,217 shares of company stock worth $113,301,418 over the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ:INTU traded up $4.84 during trading on Monday, reaching $600.54. 441,499 shares of the company’s stock traded hands, compared to its average volume of 1,315,099. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. Intuit Inc. has a fifty-two week low of $442.74 and a fifty-two week high of $676.62. The firm has a market cap of $167.88 billion, a PE ratio of 54.95, a P/E/G ratio of 3.41 and a beta of 1.21. The company has a 50-day simple moving average of $617.54 and a 200-day simple moving average of $624.90.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same period last year, the company posted $7.80 EPS. The business’s revenue was up 11.9% on a year-over-year basis. As a group, analysts predict that Intuit Inc. will post 11.72 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $3.60 annualized dividend and a dividend yield of 0.60%. Intuit’s dividend payout ratio (DPR) is 33.21%.

Analyst Upgrades and Downgrades

Several research firms have commented on INTU. BMO Capital Markets reiterated an “outperform” rating and issued a $700.00 target price on shares of Intuit in a research report on Tuesday, March 26th. Evercore ISI increased their target price on Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Piper Sandler raised their price objective on Intuit from $750.00 to $760.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Stifel Nicolaus lowered their price objective on Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Finally, Erste Group Bank restated a “hold” rating on shares of Intuit in a research report on Friday. Five analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $679.41.

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.