MCF Advisors LLC Increases Stock Position in Intuit Inc. (NASDAQ:INTU)

MCF Advisors LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 119.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 46 shares of the software maker’s stock after buying an additional 25 shares during the period. MCF Advisors LLC’s holdings in Intuit were worth $29,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in shares of Intuit during the 3rd quarter valued at $51,000. V Square Quantitative Management LLC lifted its holdings in shares of Intuit by 18.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock valued at $1,558,000 after acquiring an additional 482 shares in the last quarter. Compagnie Lombard Odier SCmA lifted its holdings in shares of Intuit by 27.5% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 8,800 shares of the software maker’s stock valued at $4,496,000 after acquiring an additional 1,900 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of Intuit by 12.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after acquiring an additional 2,074 shares in the last quarter. Finally, Hixon Zuercher LLC acquired a new position in Intuit in the 4th quarter worth $1,292,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In other news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

INTU has been the subject of several recent analyst reports. KeyCorp upped their target price on shares of Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Mizuho upped their price target on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Piper Sandler upped their price target on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Evercore ISI upped their price target on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average target price of $645.00.

Intuit Stock Up 0.8 %

Shares of NASDAQ:INTU opened at $609.77 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market cap of $170.74 billion, a PE ratio of 62.22, a price-to-earnings-growth ratio of 3.68 and a beta of 1.21. Intuit Inc. has a 52 week low of $400.22 and a 52 week high of $671.01. The firm has a 50 day simple moving average of $641.98 and a 200 day simple moving average of $600.94.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.33. The firm had revenue of $3.39 billion for 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 revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 EPS. As a group, research analysts expect that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were paid a $0.90 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.59%. Intuit’s dividend payout ratio is presently 36.73%.

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.