Raleigh Capital Management Inc. Increases Holdings in Intuit Inc. (NASDAQ:INTU)

Raleigh Capital Management Inc. lifted its position in Intuit Inc. (NASDAQ:INTU) by 7.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 393 shares of the software maker’s stock after buying an additional 28 shares during the period. Raleigh Capital Management Inc.’s holdings in Intuit were worth $247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of INTU. Mutual Advisors LLC boosted its position in Intuit by 4.6% in the fourth quarter. Mutual Advisors LLC now owns 2,813 shares of the software maker’s stock worth $1,708,000 after purchasing an additional 123 shares during the last quarter. True North Advisors LLC increased its position in shares of Intuit by 4.3% during the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after purchasing an additional 17 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Intuit by 25.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 39,268 shares of the software maker’s stock worth $24,680,000 after purchasing an additional 7,863 shares during the period. Bartlett & CO. Wealth Management LLC boosted its holdings in shares of Intuit by 3.3% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 125,370 shares of the software maker’s stock worth $78,794,000 after buying an additional 3,976 shares during the last quarter. Finally, Park Place Capital Corp increased its holdings in Intuit by 15.7% during the fourth quarter. Park Place Capital Corp now owns 310 shares of the software maker’s stock valued at $195,000 after buying an additional 42 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 2.2 %

Shares of NASDAQ:INTU opened at $598.30 on Friday. The company has a market capitalization of $167.48 billion, a price-to-earnings ratio of 58.09, a PEG ratio of 3.00 and a beta of 1.25. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The business has a 50-day moving average price of $640.53 and a 200 day moving average price of $635.79. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the business earned $1.14 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Sell-side analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a $1.04 dividend. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.70%. Intuit’s dividend payout ratio is currently 40.39%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on INTU shares. Barclays decreased their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Morgan Stanley lifted their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Scotiabank initiated coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. Piper Sandler restated an “overweight” rating and set a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. Finally, Jefferies Financial Group upped their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 7,700 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the transaction, the executive vice president now directly owns 33,916 shares of the company’s stock, valued at approximately $22,304,518.24. This trade represents a 18.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is owned by corporate insiders.

Intuit 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.