Intuit Inc. (NASDAQ:INTU) Shares Purchased by MorganRosel Wealth Management LLC

MorganRosel Wealth Management LLC boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 10.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,530 shares of the software maker’s stock after acquiring an additional 142 shares during the period. MorganRosel Wealth Management LLC’s holdings in Intuit were worth $994,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Intuit during the fourth quarter worth $2,101,848,000. Wellington Management Group LLP lifted its stake in Intuit by 173.0% during the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after purchasing an additional 2,336,654 shares in the last quarter. Lone Pine Capital LLC acquired a new position in Intuit during the fourth quarter worth $467,852,000. Parnassus Investments LLC lifted its stake in Intuit by 119.0% during the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after purchasing an additional 727,185 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Intuit by 60,534.9% during the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock worth $295,609,000 after purchasing an additional 472,172 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Performance

Shares of INTU stock opened at $657.21 on Monday. The stock’s 50-day moving average is $618.61 and its two-hundred day moving average is $628.28. The firm has a market cap of $183.72 billion, a price-to-earnings ratio of 60.63, a PEG ratio of 3.76 and a beta of 1.23. Intuit Inc. has a 1 year low of $444.19 and a 1 year high of $676.62. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50.

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

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $3.60 annualized dividend and a dividend yield of 0.55%. Intuit’s dividend payout ratio (DPR) is 33.21%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Piper Sandler upped their price objective on Intuit from $750.00 to $760.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. KeyCorp upped their price objective on Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Susquehanna cut their price objective on Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a research report on Friday, May 24th. UBS Group upped their price objective on Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research report on Monday, May 20th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $770.00 price objective on shares of Intuit in a research report on Thursday, June 13th. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $683.91.

Insider Transactions at Intuit

In other news, EVP Mark P. Notarainni sold 465 shares of the stock in a transaction dated 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 owns 869 shares in the company, valued at $525,380.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Sandeep Aujla sold 1,415 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $855,480.70. Following the completion of the sale, the chief financial officer now owns 2,332 shares in the company, valued at $1,409,880.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction dated 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 owns 869 shares of the company’s stock, valued at approximately $525,380.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 193,937 shares of company stock worth $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.