Chicago Partners Investment Group LLC Purchases 181 Shares of Intuit Inc. (NASDAQ:INTU)

Chicago Partners Investment Group LLC increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.9% during the first quarter, HoldingsChannel reports. The fund owned 9,788 shares of the software maker’s stock after buying an additional 181 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Intuit were worth $6,276,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in Intuit by 4.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,841,590 shares of the software maker’s stock valued at $1,130,718,000 after purchasing an additional 82,419 shares during the last quarter. ASR Vermogensbeheer N.V. acquired a new position in shares of Intuit in the first quarter valued at approximately $21,368,000. Exencial Wealth Advisors LLC raised its holdings in Intuit by 6.6% in the 1st quarter. Exencial Wealth Advisors LLC now owns 871 shares of the software maker’s stock valued at $535,000 after buying an additional 54 shares during the last quarter. Vanguard Group Inc. raised its holdings in Intuit by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 27,330,309 shares of the software maker’s stock valued at $16,780,536,000 after buying an additional 294,993 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Intuit by 7.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,293,330 shares of the software maker’s stock worth $1,408,082,000 after buying an additional 167,908 shares during the period. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

NASDAQ:INTU opened at $779.47 on Thursday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $813.70. The company has a fifty day moving average of $769.25 and a 200-day moving average of $665.19. The firm has a market capitalization of $217.43 billion, a P/E ratio of 63.27, a P/E/G ratio of 2.96 and a beta of 1.28.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the firm posted $9.88 earnings per share. The business’s revenue was up 15.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 10th were issued a $1.04 dividend. The ex-dividend date was Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.5%. Intuit’s dividend payout ratio is presently 33.77%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on INTU. Morgan Stanley upped their price target on shares of Intuit from $785.00 to $900.00 and gave the company an “overweight” rating in a research report on Monday, July 7th. Citigroup reissued a “buy” rating and issued a $789.00 price objective (up previously from $726.00) on shares of Intuit in a research note on Friday, May 23rd. UBS Group set a $750.00 price objective on Intuit and gave the company a “neutral” rating in a report on Friday, May 23rd. Piper Sandler reaffirmed 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. Finally, Wall Street Zen upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $806.27.

Insiders Place Their Bets

In related news, EVP Kerry J. Mclean sold 16,700 shares of Intuit stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total value of $12,176,972.00. Following the completion of the sale, the executive vice president owned 23,101 shares of the company’s stock, valued at approximately $16,844,325.16. This trade represents a 41.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 25,648 shares of the business’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the sale, the executive vice president owned 22,796 shares of the company’s stock, valued at $17,148,291. This trade represents a 52.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is currently 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.