Intuit Inc. (NASDAQ:INTU) Shares Bought by Belpointe Asset Management LLC

Belpointe Asset Management LLC grew its holdings in Intuit Inc. (NASDAQ:INTUFree Report) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 628 shares of the software maker’s stock after acquiring an additional 29 shares during the period. Belpointe Asset Management LLC’s holdings in Intuit were worth $393,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. DiNuzzo Private Wealth Inc. acquired a new position in Intuit in the 4th quarter worth $25,000. MCF Advisors LLC raised its position in shares of Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after purchasing an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new position in shares of Intuit during the 4th quarter valued at approximately $38,000. Sachetta LLC acquired a new stake in shares of Intuit during the fourth quarter worth approximately $39,000. Finally, Webster Bank N. A. bought a new stake in shares of Intuit in the fourth quarter worth $41,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Down 0.3 %

Shares of NASDAQ:INTU opened at $572.65 on Friday. The company has a 50 day moving average of $623.66 and a 200-day moving average of $623.39. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The firm has a market cap of $160.08 billion, a P/E ratio of 52.83, a P/E/G ratio of 3.28 and a beta of 1.21. Intuit Inc. has a twelve month low of $419.30 and a twelve month high of $676.62.

Intuit (NASDAQ:INTUGet Free Report) last released its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.65 billion. During the same period in the prior year, the firm posted $7.80 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, analysts anticipate that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Wednesday, July 10th. Intuit’s payout ratio is currently 33.21%.

Analyst Ratings Changes

INTU has been the subject of several recent analyst reports. BMO Capital Markets reissued an “outperform” rating and set a $700.00 price objective on shares of Intuit in a report on Tuesday, March 26th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Monday, May 27th. Jefferies Financial Group increased their target price on Intuit from $760.00 to $770.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Evercore ISI raised their price objective on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Finally, Piper Sandler increased their target price on shares of Intuit from $750.00 to $760.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $679.41.

Read Our Latest Stock Report on INTU

Insiders Place Their Bets

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. In other news, insider Scott D. Cook sold 14,748 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the sale, the insider now directly owns 6,701,721 shares of the company’s stock, valued at $3,802,556,495.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,908 shares of company stock worth $54,521,562. 2.90% of the stock is owned by corporate 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.

Further Reading

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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