Regatta Capital Group LLC Increases Stock Position in Intuit Inc. (NASDAQ:INTU)

Regatta Capital Group LLC increased its position in Intuit Inc. (NASDAQ:INTUFree Report) by 16.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,460 shares of the software maker’s stock after purchasing an additional 201 shares during the quarter. Regatta Capital Group LLC’s holdings in Intuit were worth $913,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. True North Advisors LLC boosted its stake in shares of Intuit by 18.8% in the fourth quarter. True North Advisors LLC now owns 493 shares of the software maker’s stock valued at $308,000 after purchasing an additional 78 shares during the period. Chicago Capital LLC boosted its stake in shares of Intuit by 2.4% in the fourth quarter. Chicago Capital LLC now owns 139,430 shares of the software maker’s stock valued at $87,148,000 after purchasing an additional 3,315 shares during the period. Wendell David Associates Inc. boosted its stake in shares of Intuit by 3.3% in the fourth quarter. Wendell David Associates Inc. now owns 40,542 shares of the software maker’s stock valued at $25,340,000 after purchasing an additional 1,303 shares during the period. Clarus Wealth Advisors purchased a new position in shares of Intuit in the fourth quarter valued at $204,000. Finally, Covenant Asset Management LLC raised its holdings in Intuit by 4.7% in the fourth quarter. Covenant Asset Management LLC now owns 4,084 shares of the software maker’s stock valued at $2,553,000 after acquiring an additional 182 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Down 1.6 %

Intuit stock opened at $639.84 on Tuesday. The company has a 50-day simple moving average of $648.06 and a 200-day simple moving average of $589.07. The firm has a market capitalization of $179.16 billion, a P/E ratio of 65.29, a P/E/G ratio of 3.96 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. Intuit Inc. has a one year low of $400.22 and a one year high of $671.01.

Intuit (NASDAQ:INTUGet Free Report) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 earnings per share. As a group, equities analysts expect that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be given a $0.90 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.56%. Intuit’s dividend payout ratio is presently 36.73%.

Insider Activity at Intuit

In related news, EVP Laura A. Fennell sold 14,771 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $589.60, for a total value of $8,708,981.60. Following the completion of the transaction, the executive vice president now owns 50,030 shares in the company, valued at approximately $29,497,688. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Laura A. Fennell sold 14,771 shares of the firm’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $589.60, for a total transaction of $8,708,981.60. Following the transaction, the executive vice president now owns 50,030 shares of the company’s stock, valued at approximately $29,497,688. The disclosure for this sale can be found here. Insiders sold 34,260 shares of company stock worth $20,667,475 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Mizuho upped their price target on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a report on Friday, February 23rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. Susquehanna upped their price target on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Barclays upped their price target on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Finally, Piper Sandler upped their price target on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $645.00.

Check Out Our Latest Stock Report on INTU

Intuit Profile

(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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