Elo Mutual Pension Insurance Co Buys 129 Shares of Intuit Inc. (NASDAQ:INTU)

Elo Mutual Pension Insurance Co increased its stake in Intuit Inc. (NASDAQ:INTU) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,707 shares of the software maker’s stock after buying an additional 129 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Intuit were worth $16,895,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Aveo Capital Partners LLC purchased a new stake in Intuit in the fourth quarter worth about $203,000. 9258 Wealth Management LLC grew its holdings in Intuit by 29.0% in the fourth quarter. 9258 Wealth Management LLC now owns 650 shares of the software maker’s stock worth $406,000 after purchasing an additional 146 shares during the period. Gryphon Financial Partners LLC grew its holdings in Intuit by 31.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,635 shares of the software maker’s stock worth $1,022,000 after purchasing an additional 393 shares during the period. Kingsview Wealth Management LLC grew its holdings in Intuit by 8.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 1,147 shares of the software maker’s stock worth $717,000 after purchasing an additional 92 shares during the period. Finally, Great Lakes Advisors LLC grew its holdings in Intuit by 61.4% in the fourth quarter. Great Lakes Advisors LLC now owns 2,363 shares of the software maker’s stock worth $1,477,000 after purchasing an additional 899 shares during the period. 83.66% of the stock is owned by institutional investors.

Insider Activity at Intuit

In related news, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the transaction, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sandeep Aujla sold 1,061 shares of Intuit stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the transaction, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,940 shares of company stock valued at $10,721,252. Corporate insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on INTU. Piper Sandler reiterated an “overweight” rating and set a $768.00 price target (up previously from $760.00) on shares of Intuit in a report on Friday, August 23rd. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Saturday, August 31st. Citigroup increased their price target on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Erste Group Bank reiterated a “hold” rating on shares of Intuit in a report on Friday, June 14th. Finally, Royal Bank of Canada started coverage on shares of Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average target price of $720.37.

Intuit Stock Down 0.2 %

Shares of INTU stock opened at $644.82 on Wednesday. The company has a market capitalization of $180.26 billion, a price-to-earnings ratio of 59.49, a PEG ratio of 3.14 and a beta of 1.24. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62. The company’s fifty day moving average price is $636.25 and its 200-day moving average price is $631.29. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company’s revenue was up 17.4% on a year-over-year basis. During the same period last year, the firm earned $0.40 EPS. Sell-side analysts expect that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.65%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is presently 38.38%.

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.