Legacy Advisors LLC Increases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Legacy Advisors LLC increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 6,776 shares of the software maker’s stock after acquiring an additional 107 shares during the period. Legacy Advisors LLC’s holdings in Intuit were worth $4,160,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Intuit by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock valued at $107,854,000 after purchasing an additional 3,648 shares during the period. Capitolis Liquid Global Markets LLC acquired a new position in Intuit in the 4th quarter worth $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Intuit in the 4th quarter valued at about $237,244,000. Aigen Investment Management LP acquired a new stake in shares of Intuit during the fourth quarter valued at about $2,958,000. Finally, Baer Investment Advisory LLC purchased a new stake in shares of Intuit during the fourth quarter worth about $3,261,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on INTU. Piper Sandler reissued an “overweight” rating and issued a $825.00 price target (up previously from $785.00) on shares of Intuit in a report on Friday, May 23rd. Susquehanna reaffirmed a “positive” rating on shares of Intuit in a research report on Friday, May 23rd. HSBC raised shares of Intuit from a “hold” rating to a “buy” rating and set a $699.00 price target for the company in a research report on Wednesday, April 23rd. Bank of America upped their price target on shares of Intuit from $730.00 to $875.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Finally, The Goldman Sachs Group increased their price objective on shares of Intuit from $750.00 to $860.00 and gave the company a “buy” rating in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average target price of $787.95.

Intuit Stock Up 0.2%

Shares of Intuit stock opened at $762.55 on Tuesday. The stock has a market capitalization of $212.71 billion, a price-to-earnings ratio of 61.90, a PEG ratio of 3.39 and a beta of 1.28. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $773.45. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The business’s 50 day simple moving average is $686.27 and its 200-day simple moving average is $635.14.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the company earned $9.88 earnings per share. Equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. Intuit’s dividend payout ratio (DPR) is presently 33.77%.

Insider Activity at Intuit

In related news, EVP Mark P. Notarainni sold 469 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $725.00, for a total value of $340,025.00. Following the sale, the executive vice president now directly owns 19 shares in the company, valued at $13,775. This trade represents a 96.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 16,061 shares of Intuit stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total value of $11,662,373.93. Following the sale, the chief financial officer now directly owns 197 shares in the company, valued at $143,047.61. The trade was a 98.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 271,158 shares of company stock worth $202,989,194 in the last ninety days. 2.68% of the stock is owned by insiders.

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.