Intuit Inc. (NASDAQ:INTU) Position Decreased by Bristol Gate Capital Partners Inc.

Bristol Gate Capital Partners Inc. reduced its position in shares of Intuit Inc. (NASDAQ:INTUFree Report) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 152,992 shares of the software maker’s stock after selling 4,830 shares during the period. Intuit makes up approximately 4.8% of Bristol Gate Capital Partners Inc.’s portfolio, making the stock its 7th largest position. Bristol Gate Capital Partners Inc. owned about 0.05% of Intuit worth $95,625,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. acquired a new position in shares of Intuit during the 4th quarter worth $25,000. MCF Advisors LLC increased its holdings in Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after buying an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in shares of Intuit during the 4th quarter worth approximately $38,000. Sachetta LLC acquired a new stake in shares of Intuit in the 4th quarter worth approximately $39,000. Finally, Webster Bank N. A. acquired a new position in Intuit during the fourth quarter worth $41,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Jefferies Financial Group upped their target price on Intuit from $760.00 to $770.00 and gave the company a “buy” rating in a report on Friday, May 24th. Piper Sandler upped their price target on shares of Intuit from $750.00 to $760.00 and gave the company an “overweight” rating in a report on Friday, May 24th. Susquehanna dropped their price objective on shares of Intuit from $775.00 to $757.00 and set a “positive” rating for the company in a research note on Friday, May 24th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Monday, May 27th. Finally, Wells Fargo & Company raised their price target on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $679.41.

Get Our Latest Research Report on Intuit

Intuit Trading Up 2.4 %

INTU stock traded up $13.47 during midday trading on Friday, reaching $576.44. 3,136,200 shares of the company’s stock traded hands, compared to its average volume of 1,373,677. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $676.62. The business has a 50-day moving average price of $629.49 and a two-hundred day moving average price of $623.46. The company has a market capitalization of $161.14 billion, a P/E ratio of 53.18, a PEG ratio of 3.43 and a beta of 1.22. 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 (NASDAQ:INTUGet Free Report) last announced its quarterly 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. The firm had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the company earned $7.80 EPS. Equities research analysts forecast that Intuit Inc. will post 11.73 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.90 per share. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.62%. Intuit’s payout ratio is currently 33.21%.

Insider Activity

In related news, insider Scott D. Cook sold 14,748 shares of Intuit stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the sale, the insider now owns 6,701,721 shares of the company’s stock, valued at approximately $3,802,556,495.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Scott D. Cook sold 14,748 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $567.40, for a total value of $8,368,015.20. Following the transaction, the insider now owns 6,701,721 shares of the company’s stock, valued at approximately $3,802,556,495.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 91,908 shares of company stock worth $54,521,562. 2.90% of the stock is currently owned by company insiders.

About Intuit

(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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