Jupiter Asset Management Ltd. Reduces Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Jupiter Asset Management Ltd. decreased its position in Intuit Inc. (NASDAQ:INTUFree Report) by 38.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,431 shares of the software maker’s stock after selling 13,859 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Intuit were worth $11,461,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in INTU. NewSquare Capital LLC acquired a new stake in Intuit in the third quarter valued at approximately $25,000. Cape Investment Advisory Inc. purchased a new position in Intuit in the third quarter valued at approximately $26,000. Steward Financial Group LLC increased its stake in Intuit by 50.0% in the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock valued at $30,000 after purchasing an additional 20 shares during the last quarter. Aspire Private Capital LLC increased its stake in Intuit by 144.4% in the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock valued at $34,000 after purchasing an additional 39 shares during the last quarter. Finally, Key Financial Inc increased its stake in Intuit by 95.1% in the second quarter. Key Financial Inc now owns 80 shares of the software maker’s stock valued at $37,000 after purchasing an additional 39 shares during the last quarter. Institutional investors and hedge funds own 82.63% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on INTU. Piper Sandler reiterated an “overweight” rating and issued a $642.00 price target on shares of Intuit in a research note on Wednesday, November 29th. Mizuho increased their price target on shares of Intuit from $600.00 to $625.00 and gave the company a “buy” rating in a research note on Wednesday, November 29th. Barclays increased their price target on shares of Intuit from $570.00 to $660.00 and gave the company an “overweight” rating in a research note on Wednesday, November 29th. Susquehanna initiated coverage on shares of Intuit in a research note on Friday, December 15th. They issued a “positive” rating and a $700.00 price target on the stock. Finally, Oppenheimer raised their target price on shares of Intuit from $610.00 to $678.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $594.67.

View Our Latest Research Report on Intuit

Intuit Price Performance

Intuit stock opened at $658.16 on Friday. Intuit Inc. has a one year low of $384.05 and a one year high of $662.83. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.25 and a current ratio of 1.25. The business has a fifty day moving average of $615.68 and a two-hundred day moving average of $555.05. The company has a market cap of $184.22 billion, a P/E ratio of 71.93, a price-to-earnings-growth ratio of 3.93 and a beta of 1.24.

Intuit (NASDAQ:INTUGet Free Report) last released its earnings results on Tuesday, November 28th. The software maker reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.49. Intuit had a return on equity of 17.34% and a net margin of 17.53%. The company had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the company earned $0.57 earnings per share. Intuit’s quarterly revenue was up 14.7% compared to the same quarter last year. As a group, analysts predict that Intuit Inc. will post 11.26 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Wednesday, January 10th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Tuesday, January 9th. Intuit’s dividend payout ratio (DPR) is currently 39.34%.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Laura A. Fennell sold 14,772 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $598.52, for a total value of $8,841,337.44. Following the completion of the sale, the executive vice president now owns 50,030 shares of the company’s stock, valued at $29,943,955.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Raul Vazquez sold 1,631 shares of Intuit stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $622.92, for a total transaction of $1,015,982.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Laura A. Fennell sold 14,772 shares of Intuit stock in a transaction on Monday, January 8th. The stock was sold at an average price of $598.52, for a total value of $8,841,337.44. Following the transaction, the executive vice president now directly owns 50,030 shares of the company’s stock, valued at approximately $29,943,955.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 124,815 shares of company stock valued at $71,849,903. 2.90% of the stock is owned by company insiders.

About Intuit

(Free Report)

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.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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