Portside Wealth Group LLC Buys 83 Shares of Intuit Inc. (NASDAQ:INTU)

Portside Wealth Group LLC raised its stake in Intuit Inc. (NASDAQ:INTU) by 13.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 711 shares of the software maker’s stock after acquiring an additional 83 shares during the quarter. Portside Wealth Group LLC’s holdings in Intuit were worth $437,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Intuit by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock worth $107,854,000 after acquiring an additional 3,648 shares during the last quarter. Capitolis Liquid Global Markets LLC acquired a new stake in Intuit during the 4th quarter worth approximately $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Intuit during the 4th quarter worth approximately $237,244,000. V Square Quantitative Management LLC boosted its position in Intuit by 7.0% during the 4th quarter. V Square Quantitative Management LLC now owns 7,671 shares of the software maker’s stock worth $4,821,000 after buying an additional 501 shares during the period. Finally, Alberta Investment Management Corp acquired a new stake in Intuit during the 4th quarter worth approximately $10,757,000. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $762.10 on Wednesday. The company has a market cap of $212.59 billion, a price-to-earnings ratio of 73.99, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. 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 firm has a 50 day moving average of $652.38 and a 200-day moving average of $627.65.

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

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit’s payout ratio is currently 33.77%.

Insider Activity at Intuit

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now directly owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 72,442 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the transaction, the insider now owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 288,408 shares of company stock valued at $213,441,865. 2.68% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. UBS Group set a $750.00 target price on shares of Intuit and gave the stock a “neutral” rating in a research report on Friday, May 23rd. Citigroup reiterated a “buy” rating and set a $789.00 target price (up from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Piper Sandler reiterated an “overweight” rating and set a $825.00 target price (up from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Susquehanna reiterated a “positive” rating on shares of Intuit in a research report on Friday, May 23rd. Finally, Bank of America raised their price target on shares of Intuit from $730.00 to $875.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $785.33.

About Intuit

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.