MGO One Seven LLC Purchases 614 Shares of Intuit Inc. (NASDAQ:INTU)

MGO One Seven LLC lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 47.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,897 shares of the software maker’s stock after buying an additional 614 shares during the period. MGO One Seven LLC’s holdings in Intuit were worth $1,247,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Coldstream Capital Management Inc. grew its stake in shares of Intuit by 10.0% during the 2nd quarter. Coldstream Capital Management Inc. now owns 6,487 shares of the software maker’s stock worth $4,263,000 after acquiring an additional 589 shares in the last quarter. Van Hulzen Asset Management LLC grew its position in Intuit by 3.1% in the second quarter. Van Hulzen Asset Management LLC now owns 863 shares of the software maker’s stock valued at $567,000 after purchasing an additional 26 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Intuit by 5.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 59,293 shares of the software maker’s stock valued at $38,968,000 after buying an additional 3,075 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in Intuit by 4.9% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 2,106 shares of the software maker’s stock worth $1,384,000 after buying an additional 99 shares in the last quarter. Finally, Global X Japan Co. Ltd. boosted its stake in shares of Intuit by 34.3% during the 2nd quarter. Global X Japan Co. Ltd. now owns 26,739 shares of the software maker’s stock worth $17,573,000 after buying an additional 6,828 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on INTU shares. Wells Fargo & Company upped their target price on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday, May 21st. Piper Sandler reiterated an “overweight” rating and set a $768.00 price objective (up previously from $760.00) on shares of Intuit in a research note on Friday, August 23rd. BMO Capital Markets raised their target price on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Saturday, August 31st. Finally, Bank of America increased their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $720.37.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 1,061 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total transaction of $690,997.47. Following the sale, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the sale, the chief financial officer now directly owns 3,333 shares in the company, valued at $2,170,682.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at $15,752,985.01. The disclosure for this sale can be found here. Insiders sold 16,940 shares of company stock valued at $10,721,252 in the last three months. Corporate insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $646.37 on Friday. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market cap of $180.69 billion, a price-to-earnings ratio of 59.63, a P/E/G ratio of 3.00 and a beta of 1.24. The stock’s fifty day moving average price is $636.90 and its two-hundred day moving average price is $632.08.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the previous year, the company earned $0.40 EPS. The business’s revenue was up 17.4% on a year-over-year basis. On average, equities analysts forecast that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is 38.38%.

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.