51 Shares in Intuit Inc. (NASDAQ:INTU) Purchased by Denver PWM LLC

Denver PWM LLC bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 51 shares of the software maker’s stock, valued at approximately $32,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LGT Financial Advisors LLC acquired a new position in Intuit in the 2nd quarter valued at $25,000. Cultivar Capital Inc. purchased a new stake in shares of Intuit during the second quarter worth $26,000. Fairway Wealth LLC purchased a new position in shares of Intuit in the second quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new position in Intuit during the third quarter worth about $27,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Intuit during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the topic of several recent research reports. Piper Sandler lowered their target price on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Oppenheimer upped their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Stifel Nicolaus reduced their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Morgan Stanley upped their price objective on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Finally, BMO Capital Markets boosted their target price on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Trading Up 0.3 %

NASDAQ INTU opened at $672.25 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $188.18 billion, a price-to-earnings ratio of 65.27, a PEG ratio of 3.31 and a beta of 1.24. The firm has a 50 day simple moving average of $639.04 and a 200-day simple moving average of $631.28. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.14 earnings per share. Equities research analysts anticipate that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio is presently 40.39%.

Insider Buying and Selling

In related news, EVP Laura A. Fennell sold 7,700 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the completion of the transaction, the executive vice president now owns 33,916 shares in the company, valued at approximately $22,304,518.24. The trade was a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 126,732 shares of company stock worth $81,378,070. Company insiders own 2.68% of the company’s stock.

Intuit 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.