Xponance Inc. Raises Stock Position in Intuit Inc. (NASDAQ:INTU)

Xponance Inc. boosted its position in Intuit Inc. (NASDAQ:INTU) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,551 shares of the software maker’s stock after purchasing an additional 653 shares during the quarter. Xponance Inc.’s holdings in Intuit were worth $41,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Aveo Capital Partners LLC bought a new stake in Intuit during the fourth quarter valued at $203,000. 9258 Wealth Management LLC grew its holdings in shares of Intuit by 29.0% during the fourth quarter. 9258 Wealth Management LLC now owns 650 shares of the software maker’s stock worth $406,000 after purchasing an additional 146 shares in the last quarter. Gryphon Financial Partners LLC increased its position in shares of Intuit by 31.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,635 shares of the software maker’s stock worth $1,022,000 after purchasing an additional 393 shares during the last quarter. SageView Advisory Group LLC raised its stake in Intuit by 143.1% in the fourth quarter. SageView Advisory Group LLC now owns 1,184 shares of the software maker’s stock valued at $767,000 after purchasing an additional 697 shares in the last quarter. Finally, Hilltop Holdings Inc. lifted its position in Intuit by 4.7% during the fourth quarter. Hilltop Holdings Inc. now owns 2,377 shares of the software maker’s stock valued at $1,486,000 after purchasing an additional 107 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

INTU has been the topic of a number of research analyst reports. BMO Capital Markets increased their price target on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Susquehanna reissued a “positive” rating and issued a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Piper Sandler reaffirmed an “overweight” rating and set a $768.00 price target (up previously from $760.00) on shares of Intuit in a research note on Friday, August 23rd. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Finally, Erste Group Bank reissued a “hold” rating on shares of Intuit in a report on Friday, June 14th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $720.37.

Intuit Stock Down 1.4 %

Shares of NASDAQ:INTU opened at $644.99 on Monday. Intuit Inc. has a 1 year low of $473.56 and a 1 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 stock’s 50-day moving average is $636.82 and its 200 day moving average is $631.11. The company has a market cap of $180.31 billion, a PE ratio of 59.50, a P/E/G ratio of 3.14 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 earnings per share. Sell-side analysts anticipate that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.64%. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is currently 38.38%.

Insider Buying and Selling

In other Intuit news, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Scott D. Cook sold 2,461 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. The disclosure for this sale can be found here. Insiders sold a total of 22,389 shares of company stock valued at $14,231,188 over the last three months. Corporate insiders own 2.90% of the company’s stock.

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.