Pittenger & Anderson Inc. Increases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Pittenger & Anderson Inc. raised its holdings in Intuit Inc. (NASDAQ:INTU) by 23.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,556 shares of the software maker’s stock after acquiring an additional 484 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Intuit were worth $1,598,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. NewSquare Capital LLC purchased a new stake in Intuit during the 3rd quarter valued at about $25,000. Cape Investment Advisory Inc. acquired a new stake in Intuit during the 3rd quarter valued at approximately $26,000. MCF Advisors LLC boosted its holdings 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 acquiring an additional 25 shares during the last quarter. Steward Financial Group LLC boosted its holdings in shares of Intuit by 50.0% in the 3rd quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock valued at $30,000 after acquiring an additional 20 shares during the last quarter. Finally, Aspire Private Capital LLC boosted its holdings in Intuit by 144.4% in the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock valued at $34,000 after purchasing an additional 39 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Trading Down 1.4 %

Shares of Intuit stock traded down $9.10 during trading hours on Thursday, hitting $626.39. The company’s stock had a trading volume of 1,241,203 shares, compared to its average volume of 1,250,536. The firm has a fifty day moving average of $641.40 and a 200-day moving average of $601.86. 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 stock has a market cap of $175.39 billion, a price-to-earnings ratio of 63.34, a P/E/G ratio of 3.84 and a beta of 1.21. Intuit Inc. has a twelve month low of $400.22 and a twelve month high of $671.01.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the business posted $1.05 EPS. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. Research analysts forecast that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s dividend payout ratio is currently 36.73%.

Insiders Place Their Bets

In other news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the transaction, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock worth $3,117,156 over the last three months. Company insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on INTU. Piper Sandler boosted their target price on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Susquehanna lifted their price target on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Stifel Nicolaus increased their price target on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Evercore ISI boosted their target price 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, Wells Fargo & Company raised their price target on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 21st. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $650.23.

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.