Intuit Inc. (NASDAQ:INTU) Shares Bought by Caldwell Sutter Capital Inc.

Caldwell Sutter Capital Inc. lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 8,400.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,400 shares of the software maker’s stock after buying an additional 3,360 shares during the quarter. Intuit makes up approximately 1.0% of Caldwell Sutter Capital Inc.’s investment portfolio, making the stock its 19th largest position. Caldwell Sutter Capital Inc.’s holdings in Intuit were worth $2,088,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in INTU. Copia Wealth Management acquired a new position in shares of Intuit during the fourth quarter valued at approximately $25,000. NewSquare Capital LLC increased its position in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares in the last quarter. Summit Securities Group LLC acquired a new position in Intuit in the 4th quarter valued at $28,000. Heck Capital Advisors LLC purchased a new position in Intuit in the 4th quarter valued at $28,000. Finally, VSM Wealth Advisory LLC purchased a new position in Intuit in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the subject of a number of recent research reports. Piper Sandler reiterated an “overweight” rating and issued 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 report on Friday, May 23rd. UBS Group set a $750.00 target price on shares of Intuit and gave the stock a “neutral” rating in a research note on Friday, May 23rd. HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 price target for the company in a research report on Wednesday, April 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $850.00 price target (up previously from $760.00) on shares of Intuit 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 assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $787.95.

Intuit Stock Down 1.6%

Shares of NASDAQ INTU opened at $753.98 on Friday. 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 business’s 50 day moving average is $664.85 and its two-hundred day moving average is $630.29. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $773.45. The firm has a market cap of $210.32 billion, a price-to-earnings ratio of 73.20, a PEG ratio of 2.85 and a beta of 1.28.

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

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a dividend of $1.04 per share. 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 33.77%.

Insider Activity at Intuit

In related news, Director Eve B. Burton sold 1,702 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares in the company, valued at $4,800. This represents a 99.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 62,816 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $765.99, for a total transaction of $48,116,427.84. Following the sale, the insider now owns 6,000,679 shares of the company’s stock, valued at $4,596,460,107.21. This trade represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 288,408 shares of company stock valued at $213,441,865 over the last three months. 2.68% of the stock is owned by corporate insiders.

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.