Intuit Inc. (NASDAQ:INTU) Shares Purchased by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 21.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 424 shares of the software maker’s stock after acquiring an additional 74 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Intuit were worth $265,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Intuit during the fourth quarter worth approximately $25,000. MCF Advisors LLC lifted its holdings in shares of Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after buying an additional 25 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in Intuit during the fourth quarter worth $38,000. Sachetta LLC acquired a new stake in Intuit in the fourth quarter valued at $39,000. Finally, Webster Bank N. A. purchased a new stake in shares of Intuit during the 4th quarter worth $41,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on INTU shares. Barclays raised 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. Piper Sandler raised their price objective on Intuit from $750.00 to $760.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Jefferies Financial Group reiterated a “buy” rating and set a $770.00 target price on shares of Intuit in a research report on Thursday, June 13th. Morgan Stanley upped their target price on Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Finally, Mizuho lifted their price target on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and an average target price of $679.41.

Intuit Stock Up 1.2 %

Shares of NASDAQ INTU opened at $609.68 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $170.44 billion, a PE ratio of 56.24, a P/E/G ratio of 3.45 and a beta of 1.21. The firm has a fifty day moving average of $616.00 and a 200-day moving average of $625.37. Intuit Inc. has a 52-week low of $442.74 and a 52-week high of $676.62.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business posted $7.80 EPS. On average, analysts anticipate that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be issued a dividend of $0.90 per share. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 annualized dividend and a dividend yield of 0.59%. Intuit’s payout ratio is 33.21%.

Insider Buying and Selling

In related news, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $281,129.70. Following the sale, the executive vice president now directly owns 869 shares in the company, valued at approximately $525,380.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the completion of the sale, the executive vice president now directly owns 869 shares of the company’s stock, valued at approximately $525,380.02. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the transaction, the insider now owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The disclosure for this sale can be found here. In the last three months, insiders sold 193,937 shares of company stock valued at $113,123,232. Company insiders own 2.90% of the company’s stock.

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.