Intuit Inc. (NASDAQ:INTU) Holdings Decreased by Raub Brock Capital Management LP

Raub Brock Capital Management LP reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 7.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,162 shares of the software maker’s stock after selling 2,556 shares during the period. Intuit accounts for about 4.4% of Raub Brock Capital Management LP’s investment portfolio, making the stock its 5th largest holding. Raub Brock Capital Management LP’s holdings in Intuit were worth $20,905,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of INTU. Vanguard Group Inc. raised its position in shares of Intuit by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock worth $12,942,784,000 after purchasing an additional 117,478 shares during the last quarter. Morgan Stanley lifted its stake in shares of Intuit by 3.7% in the third quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock worth $1,966,304,000 after buying an additional 137,198 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Intuit by 173.0% during 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 buying an additional 2,336,654 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Intuit by 2.3% during 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 acquiring an additional 80,517 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Intuit during the fourth quarter valued at approximately $2,101,848,000. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on INTU. BMO Capital Markets reiterated an “outperform” rating and set a $700.00 target price on shares of Intuit in a research note on Tuesday, March 26th. Erste Group Bank reaffirmed a “hold” rating on shares of Intuit in a research report on Friday, June 14th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Monday, May 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $770.00 price target on shares of Intuit in a research note on Thursday, June 13th. Finally, Piper Sandler increased their price objective on shares of Intuit from $750.00 to $760.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $683.91.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 27,309 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total transaction 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 approximately $3,870,020,221.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Intuit news, CFO Sandeep Aujla sold 1,415 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $855,480.70. Following the sale, the chief financial officer now owns 2,332 shares in the company, valued at approximately $1,409,880.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 27,309 shares of Intuit stock in a transaction dated Wednesday, June 12th. The stock was 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 in the company, valued at $3,870,020,221.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 193,937 shares of company stock valued at $113,123,232. Corporate insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock traded up $1.28 during trading hours on Tuesday, reaching $652.05. 174,166 shares of the company traded hands, compared to its average volume of 1,340,525. The firm has a 50-day moving average price of $618.61 and a 200 day moving average price of $628.28. The company has a market cap of $182.28 billion, a P/E ratio of 60.03, a P/E/G ratio of 3.76 and a beta of 1.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. Intuit Inc. has a 12-month low of $444.19 and a 12-month high of $676.62.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, beating 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 company had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.65 billion. During the same quarter in the previous year, the company earned $7.80 EPS. Intuit’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, sell-side analysts predict that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.55%. The ex-dividend date is Wednesday, July 10th. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

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.