Curated Wealth Partners LLC Raises Holdings in Intuit Inc. (NASDAQ:INTU)

Curated Wealth Partners LLC lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 36.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,551 shares of the software maker’s stock after acquiring an additional 417 shares during the quarter. Curated Wealth Partners LLC’s holdings in Intuit were worth $952,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock valued at $16,991,696,000 after buying an additional 353,185 shares in the last quarter. Geode Capital Management LLC raised its holdings in Intuit by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker’s stock valued at $3,833,720,000 after acquiring an additional 132,384 shares during the period. Wellington Management Group LLP lifted its position in shares of Intuit by 13.3% during the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after acquiring an additional 620,559 shares in the last quarter. Norges Bank bought a new position in shares of Intuit in the fourth quarter worth $2,290,419,000. Finally, Northern Trust Corp increased its position in shares of Intuit by 17.3% during the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker’s stock valued at $2,118,682,000 after buying an additional 498,030 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Susquehanna restated a “positive” rating on shares of Intuit in a research report on Friday, May 23rd. Redburn Atlantic began coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Piper Sandler reissued an “overweight” rating and set a $825.00 price objective (up previously from $785.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Evercore ISI upped their target price on Intuit from $685.00 to $785.00 and gave the stock an “outperform” rating in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $785.33.

Insider Activity at Intuit

In other Intuit news, EVP Alex G. Balazs sold 1,459 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $770.80, for a total transaction of $1,124,597.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the transaction, the director now directly owns 8 shares of the company’s stock, valued at $4,800. This represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 225,592 shares of company stock worth $165,325,437 over the last quarter. 2.68% of the stock is owned by corporate insiders.

Intuit Stock Down 0.9%

Shares of NASDAQ INTU opened at $764.38 on Tuesday. The firm’s fifty day moving average is $649.11 and its 200 day moving average is $626.71. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $773.45. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $213.22 billion, a price-to-earnings ratio of 74.21, a PEG ratio of 2.85 and a beta of 1.28.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.88 earnings per share. On average, equities research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. Intuit’s dividend payout ratio (DPR) is presently 33.77%.

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.