First Republic Investment Management Inc. Purchases 4,095 Shares of Intuit Inc. (NASDAQ:INTU)

First Republic Investment Management Inc. boosted its position in Intuit Inc. (NASDAQ:INTUGet Rating) by 6.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,179 shares of the software maker’s stock after acquiring an additional 4,095 shares during the quarter. First Republic Investment Management Inc.’s holdings in Intuit were worth $25,245,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in INTU. Price T Rowe Associates Inc. MD boosted its position in Intuit by 3.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 17,749,565 shares of the software maker’s stock valued at $6,841,392,000 after buying an additional 575,174 shares in the last quarter. Bishop Rock Capital L.P. boosted its position in Intuit by 27,658.9% in the second quarter. Bishop Rock Capital L.P. now owns 4,562,453 shares of the software maker’s stock valued at $11,837,000 after buying an additional 4,546,017 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Intuit by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,103,268 shares of the software maker’s stock valued at $1,196,123,000 after buying an additional 95,793 shares in the last quarter. Legal & General Group Plc boosted its position in Intuit by 2.4% in the second quarter. Legal & General Group Plc now owns 2,111,299 shares of the software maker’s stock valued at $813,780,000 after buying an additional 50,300 shares in the last quarter. Finally, Findlay Park Partners LLP boosted its position in Intuit by 29.7% in the second quarter. Findlay Park Partners LLP now owns 1,890,824 shares of the software maker’s stock valued at $728,799,000 after buying an additional 433,382 shares in the last quarter. 82.65% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP James Alexander Chriss sold 597 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $400.00, for a total transaction of $238,800.00. Following the sale, the executive vice president now owns 344 shares of the company’s stock, valued at approximately $137,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Lauren D. Hotz sold 400 shares of the stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $416.01, for a total transaction of $166,404.00. Following the transaction, the chief accounting officer now owns 2,067 shares of the company’s stock, valued at approximately $859,892.67. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP James Alexander Chriss sold 597 shares of the stock in a transaction on Monday, January 9th. The shares were sold at an average price of $400.00, for a total transaction of $238,800.00. Following the transaction, the executive vice president now directly owns 344 shares in the company, valued at approximately $137,600. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,086 shares of company stock worth $1,258,434. 3.18% of the stock is owned by insiders.

Intuit Trading Down 2.1 %

INTU opened at $401.55 on Wednesday. Intuit Inc. has a 1-year low of $339.36 and a 1-year high of $579.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.40. The company has a market cap of $112.80 billion, a P/E ratio of 61.12, a price-to-earnings-growth ratio of 3.08 and a beta of 1.15. The company has a fifty day moving average price of $392.80 and a two-hundred day moving average price of $411.89.

Intuit (NASDAQ:INTUGet Rating) last posted its earnings results on Tuesday, November 29th. The software maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.08 by $0.49. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.50 billion. Intuit had a net margin of 14.10% and a return on equity of 14.31%. Analysts predict that Intuit Inc. will post 8.99 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 18th. Investors of record on Tuesday, January 10th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 0.78%. The ex-dividend date was Monday, January 9th. Intuit’s dividend payout ratio (DPR) is presently 47.49%.

Analyst Ratings Changes

A number of equities analysts have recently commented on INTU shares. KeyCorp lifted their price target on shares of Intuit from $425.00 to $450.00 and gave the stock an “overweight” rating in a report on Friday, January 20th. Piper Sandler cut their price target on shares of Intuit from $553.00 to $459.00 and set an “overweight” rating on the stock in a report on Wednesday, November 30th. Jefferies Financial Group cut their price target on shares of Intuit from $575.00 to $525.00 in a report on Wednesday, November 30th. Oppenheimer cut their price target on shares of Intuit from $516.00 to $476.00 and set an “outperform” rating on the stock in a report on Wednesday, November 30th. Finally, Bank of America cut their price target on shares of Intuit from $500.00 to $475.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $499.21.

About Intuit

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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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