Intuit Inc. (NASDAQ:INTU) Shares Bought by North Star Asset Management Inc.

North Star Asset Management Inc. grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,389 shares of the software maker’s stock after purchasing an additional 356 shares during the period. Intuit makes up about 1.4% of North Star Asset Management Inc.’s holdings, making the stock its 18th largest position. North Star Asset Management Inc.’s holdings in Intuit were worth $30,938,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in INTU. Copia Wealth Management purchased a new stake in Intuit during the fourth quarter worth about $25,000. Heck Capital Advisors LLC purchased a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Olde Wealth Management LLC acquired a new stake in shares of Intuit in the 1st quarter worth approximately $37,000. Atlantic Edge Private Wealth Management LLC increased its stake in Intuit by 523.1% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker’s stock valued at $50,000 after purchasing an additional 68 shares in the last quarter. Finally, Hughes Financial Services LLC purchased a new position in Intuit in the 1st quarter valued at approximately $50,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on INTU. Susquehanna reiterated a “positive” rating on shares of Intuit in a research report on Friday, May 23rd. Evercore ISI lifted their price target on Intuit from $685.00 to $785.00 and gave the stock an “outperform” rating in a research note on Friday, May 23rd. CLSA began coverage on shares of Intuit in a research report on Thursday, June 26th. They issued an “outperform” rating and a $900.00 price objective on the stock. HSBC upgraded shares of Intuit from a “hold” rating to a “buy” rating and set a $699.00 target price for the company in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Intuit from $660.00 to $770.00 and gave the stock an “overweight” rating in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus price target of $806.27.

Intuit Trading Up 1.0%

Shares of Intuit stock opened at $806.34 on Wednesday. The firm has a market cap of $224.93 billion, a PE ratio of 65.45, a P/E/G ratio of 3.54 and a beta of 1.27. The business’s fifty day moving average is $760.66 and its two-hundred day moving average is $658.48. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $807.93. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same quarter in the previous year, the business earned $9.88 EPS. The firm’s revenue was up 15.1% on a year-over-year basis. Analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.52%. The ex-dividend date was Thursday, July 10th. Intuit’s dividend payout ratio (DPR) is 33.77%.

Insider Activity

In related news, insider Scott D. Cook sold 72,442 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the transaction, the insider directly owned 6,063,495 shares of the company’s stock, valued at approximately $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 16,061 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total value of $11,662,373.93. Following the completion of the transaction, the chief financial officer owned 197 shares in the company, valued at approximately $143,047.61. This trade represents a 98.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 279,800 shares of company stock valued at $209,725,054 in the last ninety days. 2.68% of the stock is owned by company insiders.

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.