Mogy Joel R Investment Counsel Inc. Has $44.89 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Mogy Joel R Investment Counsel Inc. increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,109 shares of the software maker’s stock after acquiring an additional 1,123 shares during the period. Intuit comprises about 2.9% of Mogy Joel R Investment Counsel Inc.’s portfolio, making the stock its 13th largest position. Mogy Joel R Investment Counsel Inc.’s holdings in Intuit were worth $44,888,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Intuit during the 4th quarter worth approximately $2,290,419,000. GAMMA Investing LLC boosted its holdings in Intuit by 69,701.9% during the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker’s stock worth $17,348,790,000 after purchasing an additional 2,821,534 shares during the last quarter. Proficio Capital Partners LLC grew its position in Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after purchasing an additional 1,062,847 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Intuit by 33.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock valued at $1,930,765,000 after buying an additional 771,232 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after buying an additional 620,559 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Buying and Selling at Intuit

In related news, EVP Alex G. Balazs sold 1,459 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $770.80, for a total transaction of $1,124,597.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Sandeep Aujla sold 16,061 shares of Intuit stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the completion of the sale, the chief financial officer now owns 197 shares of the company’s stock, valued at $143,047.61. This trade represents a 98.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 288,408 shares of company stock valued at $213,441,865 in the last ninety days. 2.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on INTU. Royal Bank of Canada restated an “outperform” rating and issued a $850.00 price objective (up previously from $760.00) on shares of Intuit in a report on Friday, May 23rd. KeyCorp reissued an “overweight” rating and set a $850.00 price target (up from $770.00) on shares of Intuit in a research report on Friday, May 23rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $820.00 price target (up previously from $714.00) on shares of Intuit in a research report on Friday, May 23rd. Piper Sandler reiterated an “overweight” rating and set a $825.00 price objective (up previously from $785.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Intuit from $660.00 to $770.00 and gave the company an “overweight” rating in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $785.33.

Intuit Stock Performance

Shares of INTU stock opened at $764.75 on Thursday. The company has a market capitalization of $213.32 billion, a price-to-earnings ratio of 74.25, a PEG ratio of 2.85 and a beta of 1.28. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company has a 50-day simple moving average of $656.45 and a 200 day simple moving average of $628.59. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $773.45.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the business posted $9.88 earnings per share. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, sell-side analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.54%. Intuit’s dividend payout ratio (DPR) is presently 33.77%.

Intuit Company 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.