600 Shares in Intuit Inc. (NASDAQ:INTU) Bought by MQS Management LLC

MQS Management LLC acquired a new position in shares of Intuit Inc. (NASDAQ:INTU) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 600 shares of the software maker’s stock, valued at approximately $373,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in Intuit by 68,404.7% during the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after buying an additional 483,621 shares in the last quarter. Vanguard Group Inc. raised its holdings in Intuit by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after acquiring an additional 283,291 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in Intuit during the 2nd quarter worth about $184,982,000. Ameriprise Financial Inc. increased its holdings in Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after acquiring an additional 238,486 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in Intuit by 21.3% during the second quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after buying an additional 169,190 shares during the period. 83.66% of the stock is owned by institutional investors.

Insider Activity at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at $15,752,985.01. The trade was a 30.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the sale, the chief financial officer now directly owns 452 shares in the company, valued at approximately $279,010.56. This trade represents a 89.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock worth $35,220,046 over the last 90 days. Insiders own 2.90% of the company’s stock.

Intuit Trading Down 0.8 %

NASDAQ INTU opened at $700.76 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market cap of $196.42 billion, a price-to-earnings ratio of 67.20, a PEG ratio of 3.42 and a beta of 1.25. The firm’s 50 day moving average price is $630.03 and its two-hundred day moving average price is $629.21. Intuit Inc. has a twelve month low of $552.68 and a twelve month high of $714.78.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the business posted $0.40 EPS. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. Equities analysts anticipate that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.59%. Intuit’s payout ratio is currently 39.81%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Bank of America increased their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Piper Sandler reiterated an “overweight” rating and set a $768.00 price objective on shares of Intuit in a research note on Friday, September 27th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Finally, BMO Capital Markets increased their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

About Intuit

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.