Successful Portfolios LLC Acquires Shares of 358 Intuit Inc. (NASDAQ:INTU)

Successful Portfolios LLC bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 358 shares of the software maker’s stock, valued at approximately $224,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Intuit by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock worth $12,942,784,000 after buying an additional 117,478 shares during the period. State Street Corp lifted its holdings in Intuit by 1.8% in the 2nd quarter. State Street Corp now owns 11,298,299 shares of the software maker’s stock valued at $5,176,768,000 after purchasing an additional 198,646 shares in the last quarter. FMR LLC lifted its holdings in Intuit by 5.0% in the 3rd quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after purchasing an additional 266,803 shares in the last quarter. Morgan Stanley raised its holdings in shares of Intuit by 3.7% during the 3rd quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock worth $1,966,304,000 after acquiring an additional 137,198 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Intuit by 5.2% during the 3rd quarter. Northern Trust Corp now owns 3,212,771 shares of the software maker’s stock worth $1,641,533,000 after acquiring an additional 160,229 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction on 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 Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 14,771 shares of the company’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $589.60, for a total value of $8,708,981.60. Following the transaction, the executive vice president now directly owns 50,030 shares of the company’s stock, valued at $29,497,688. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,260 shares of company stock valued at $20,667,475. Company insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the subject of several analyst reports. Wells Fargo & Company upped their price target on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 21st. Citigroup upped their price objective on Intuit from $565.00 to $651.00 and gave the company a “buy” rating in a research report on Wednesday, November 29th. Evercore ISI increased their target price on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Barclays lifted their price objective on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Finally, Piper Sandler lifted 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. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $645.00.

Intuit Stock Performance

Shares of NASDAQ:INTU traded up $1.26 during mid-day trading on Thursday, reaching $650.00. 1,157,969 shares of the company traded hands, compared to its average volume of 1,243,499. The company’s 50 day moving average price is $645.76 and its 200-day moving average price is $586.88. The firm has a market cap of $182 billion, a PE ratio of 66.20, a PEG ratio of 3.90 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. Intuit Inc. has a 52 week low of $400.22 and a 52 week high of $671.01.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. Intuit’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, equities analysts expect that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The business 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 0.55%. The ex-dividend date is Tuesday, April 9th. Intuit’s dividend payout ratio is currently 36.73%.

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.