Intuit Inc. (NASDAQ:INTU) Shares Bought by Money Concepts Capital Corp

Money Concepts Capital Corp grew its holdings in Intuit Inc. (NASDAQ:INTU) by 7.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,510 shares of the software maker’s stock after buying an additional 102 shares during the quarter. Money Concepts Capital Corp’s holdings in Intuit were worth $927,000 as of its most recent SEC filing.

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

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 72,442 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the sale, the insider now owns 6,063,495 shares in the company, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Lauren D. Hotz sold 1,738 shares of the company’s stock in a transaction on Friday, June 27th. The shares were sold at an average price of $784.09, for a total value of $1,362,748.42. Following the completion of the transaction, the chief accounting officer now owns 455 shares of the company’s stock, valued at $356,760.95. The trade was a 79.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 272,896 shares of company stock valued at $204,351,942 over the last quarter. Insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on INTU shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $785.00 target price (up from $720.00) on shares of Intuit in a research report on Friday, May 23rd. Piper Sandler reissued an “overweight” rating and issued a $825.00 target price (up previously from $785.00) on shares of Intuit in a report on Friday, May 23rd. Hsbc Global Res raised shares of Intuit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. Oppenheimer reiterated an “outperform” rating and set a $742.00 target price (up previously from $642.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, HSBC upgraded shares of 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $793.05.

Intuit Trading Up 0.5%

Shares of INTU opened at $776.57 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The firm’s 50-day moving average is $700.54 and its two-hundred day moving average is $638.60. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $787.22. The firm has a market capitalization of $216.62 billion, a P/E ratio of 63.03, a PEG ratio of 3.44 and a beta of 1.28.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results 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. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the business posted $9.88 earnings per share. On average, research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a $1.04 dividend. 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 is currently 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.