Family Capital Management Inc. Buys Shares of 382 Intuit Inc. (NASDAQ:INTU)

Family Capital Management Inc. bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 382 shares of the software maker’s stock, valued at approximately $239,000.

Several other hedge funds have also made changes to their positions in the stock. Desjardins Global Asset Management Inc. boosted its stake in Intuit by 1.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock valued at $738,000 after purchasing an additional 16 shares during the period. GAM Holding AG raised its holdings in shares of Intuit by 0.3% during the fourth quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after buying an additional 17 shares during the last quarter. Janiczek Wealth Management LLC boosted its position in shares of Intuit by 2.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after buying an additional 17 shares during the period. Clear Harbor Asset Management LLC grew its holdings in Intuit by 0.4% in the 4th quarter. Clear Harbor Asset Management LLC now owns 4,842 shares of the software maker’s stock worth $3,027,000 after buying an additional 18 shares in the last quarter. Finally, Glenview Trust co increased its position in Intuit by 1.9% in the 3rd quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock valued at $527,000 after acquiring an additional 19 shares during the period. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the subject of several recent analyst reports. Barclays increased their price target on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Wells Fargo & Company raised their target price 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. 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. Oppenheimer raised their price objective on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $700.00 target price on shares of Intuit in a research report on Tuesday, March 26th. Four equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $645.00.

Insider Buying and Selling

In other Intuit news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares in the company, valued at approximately $2,083,313.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,717 shares of company stock valued at $3,117,156. Corporate insiders own 2.90% of the company’s stock.

Intuit Trading Down 0.8 %

Shares of INTU traded down $4.83 during midday trading on Thursday, hitting $608.38. The stock had a trading volume of 773,735 shares, compared to its average volume of 1,243,719. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The business has a 50-day simple moving average of $644.88 and a two-hundred day simple moving average of $598.39. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The firm has a market cap of $170.35 billion, a P/E ratio of 62.04, a price-to-earnings-growth ratio of 3.72 and a beta of 1.21.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the business posted $1.05 EPS. The company’s revenue was up 11.3% on a year-over-year basis. As a group, equities analysts forecast that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s payout ratio is 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.