Van ECK Associates Corp Buys 497 Shares of Intuit Inc. (NASDAQ:INTU)

Van ECK Associates Corp lifted its stake in Intuit Inc. (NASDAQ:INTU) by 0.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 60,419 shares of the software maker’s stock after buying an additional 497 shares during the period. Van ECK Associates Corp’s holdings in Intuit were worth $37,973,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. R Squared Ltd purchased a new position in Intuit during the fourth quarter worth $25,000. Northwest Investment Counselors LLC bought a new stake in shares of Intuit in the 3rd quarter worth about $27,000. Heck Capital Advisors LLC bought a new stake in shares of Intuit in the 4th quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit during the 4th quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in Intuit during the 4th quarter valued at about $29,000. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on INTU shares. Morgan Stanley raised their price objective on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and set a $765.00 price target on shares of Intuit in a research note on Friday, January 10th. Barclays cut their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Stifel Nicolaus lowered their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Stock Performance

Shares of NASDAQ:INTU opened at $583.90 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $163.45 billion, a price-to-earnings ratio of 56.69, a price-to-earnings-growth ratio of 2.91 and a beta of 1.24. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The firm has a 50 day moving average of $622.69 and a 200 day moving average of $630.67.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 earnings per share. On average, sell-side analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.71%. Intuit’s payout ratio is 40.39%.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated 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 sale, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock worth $188,992,187 over the last three months. Corporate insiders own 2.68% of the company’s stock.

Intuit Company 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.