Capital Investment Advisors LLC Acquires 73 Shares of Intuit Inc. (NASDAQ:INTU)

Capital Investment Advisors LLC increased its stake in Intuit Inc. (NASDAQ:INTU) by 3.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,162 shares of the software maker’s stock after buying an additional 73 shares during the period. Capital Investment Advisors LLC’s holdings in Intuit were worth $1,359,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after buying an additional 221,885 shares during the period. Geode Capital Management LLC lifted its holdings in Intuit by 1.4% during the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after purchasing an additional 80,463 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Intuit by 2.9% in the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after purchasing an additional 107,482 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Intuit by 1.0% in the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after purchasing an additional 23,995 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Intuit by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock valued at $1,428,790,000 after purchasing an additional 87,517 shares during the period. Institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other news, EVP Mark P. Notarainni sold 3,649 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the completion of the sale, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $12,286.92. This represents a 99.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 293,014 shares of company stock worth $188,992,187. Company insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the subject of a number of recent research reports. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Scotiabank began coverage on Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price for the company. Jefferies Financial Group upped their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Piper Sandler restated an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. Finally, Oppenheimer upped their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $623.80 on Wednesday. The stock’s 50-day moving average is $649.57 and its 200 day moving average is $637.71. The stock has a market cap of $174.61 billion, a price-to-earnings ratio of 60.56, a P/E/G ratio of 3.24 and a beta of 1.25. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. 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 announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the business posted $1.14 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts anticipate that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

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.