Liberty One Investment Management LLC Buys 584 Shares of Intuit Inc. (NASDAQ:INTU)

Liberty One Investment Management LLC lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 8.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,749 shares of the software maker’s stock after purchasing an additional 584 shares during the quarter. Liberty One Investment Management LLC’s holdings in Intuit were worth $4,758,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTU. Copia Wealth Management bought a new stake in shares of Intuit during the 4th quarter valued at approximately $25,000. Summit Securities Group LLC acquired a new position in Intuit in the 4th quarter valued at approximately $28,000. Heck Capital Advisors LLC acquired a new position in Intuit in the 4th quarter valued at approximately $28,000. VSM Wealth Advisory LLC acquired a new position in Intuit in the 4th quarter valued at approximately $35,000. Finally, Olde Wealth Management LLC acquired a new position in Intuit in the 1st quarter valued at approximately $37,000. 83.66% of the stock is owned by institutional investors.

Intuit Stock Up 0.4%

Shares of NASDAQ INTU opened at $783.61 on Tuesday. The firm has a market cap of $218.59 billion, a PE ratio of 63.60, a P/E/G ratio of 3.47 and a beta of 1.27. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $790.60. The company’s fifty day simple moving average is $722.21 and its 200 day simple moving average is $643.41. 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 issued its earnings results 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. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. Intuit’s revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm earned $9.88 earnings per share. As a group, sell-side analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.53%. Intuit’s payout ratio is 33.77%.

Insider Activity

In other Intuit news, EVP Kerry J. Mclean sold 16,700 shares of the company’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the transaction, the executive vice president owned 23,101 shares in the company, valued at approximately $16,844,325.16. This represents a 41.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Marianna Tessel sold 34,329 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the transaction, the executive vice president owned 40,767 shares in the company, valued at approximately $31,017,164.28. The trade was a 45.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 275,661 shares of company stock valued at $206,491,776. 2.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

INTU has been the subject of several recent research reports. CLSA initiated coverage on shares of Intuit in a research report on Thursday, June 26th. They issued an “outperform” rating and a $900.00 price target for the company. Citigroup restated a “buy” rating and issued a $789.00 price target (up from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Piper Sandler restated an “overweight” rating and issued a $825.00 price target (up from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Oppenheimer restated an “outperform” rating and issued a $742.00 price target (up from $642.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Intuit from $660.00 to $770.00 and gave the company 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus target price of $798.27.

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.