DAVENPORT & Co LLC Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

DAVENPORT & Co LLC raised its holdings in Intuit Inc. (NASDAQ:INTUFree Report) by 0.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 193,361 shares of the software maker’s stock after acquiring an additional 277 shares during the period. DAVENPORT & Co LLC’s holdings in Intuit were worth $120,763,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in INTU. Clear Harbor Asset Management LLC boosted its stake in shares of Intuit by 0.4% during the 4th quarter. Clear Harbor Asset Management LLC now owns 4,842 shares of the software maker’s stock worth $3,027,000 after acquiring an additional 18 shares in the last quarter. Glenview Trust co lifted its stake in Intuit by 1.9% in the 3rd quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock valued at $527,000 after buying an additional 19 shares in the last quarter. Verity Asset Management Inc. lifted its stake in Intuit by 2.5% in the 3rd quarter. Verity Asset Management Inc. now owns 769 shares of the software maker’s stock valued at $393,000 after buying an additional 19 shares in the last quarter. Steward Financial Group LLC lifted its stake in Intuit by 50.0% in the 3rd quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock valued at $30,000 after buying an additional 20 shares in the last quarter. Finally, Stratos Wealth Advisors LLC lifted its stake in Intuit by 0.9% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 2,240 shares of the software maker’s stock valued at $1,145,000 after buying an additional 20 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intuit

In other news, EVP Laura A. Fennell sold 14,772 shares of Intuit stock in a transaction on Monday, January 8th. The shares were sold at an average price of $598.52, for a total transaction of $8,841,337.44. Following the completion of the sale, the executive vice president now directly owns 50,030 shares of the company’s stock, valued at approximately $29,943,955.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Alex G. Balazs sold 280 shares of Intuit 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Laura A. Fennell sold 14,772 shares of Intuit stock in a transaction on Monday, January 8th. The stock was sold at an average price of $598.52, for a total transaction of $8,841,337.44. Following the sale, the executive vice president now owns 50,030 shares in the company, valued at $29,943,955.60. The disclosure for this sale can be found here. In the last three months, insiders sold 34,260 shares of company stock valued at $20,667,475. Insiders own 2.90% of the company’s stock.

Intuit Stock Down 2.1 %

INTU stock traded down $13.25 during midday trading on Tuesday, hitting $626.59. The company’s stock had a trading volume of 2,119,221 shares, compared to its average volume of 1,246,643. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 52-week low of $400.22 and a 52-week high of $671.01. The firm has a market capitalization of $175.45 billion, a P/E ratio of 63.94, a PEG ratio of 3.96 and a beta of 1.21. The firm has a 50-day simple moving average of $648.25 and a 200-day simple moving average of $589.72.

Intuit (NASDAQ:INTUGet Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter last year, the company posted $1.05 EPS. The firm’s revenue was up 11.3% compared to the same quarter last year. As a group, equities analysts forecast that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.90 per share. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. Intuit’s dividend payout ratio (DPR) is currently 36.73%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on INTU shares. Piper Sandler raised their price target on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. raised their price target on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Mizuho raised their price target on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Barclays increased their price objective on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a report on Tuesday, March 26th. Four research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $645.00.

Check Out Our Latest Research Report on Intuit

Intuit Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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