Intuit Inc. (NASDAQ:INTU) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in Intuit Inc. (NASDAQ:INTU) by 5.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,048 shares of the software maker’s stock after acquiring an additional 210 shares during the quarter. GAMMA Investing LLC’s holdings in Intuit were worth $2,544,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. LGT Financial Advisors LLC purchased a new stake in Intuit during the 2nd quarter worth approximately $25,000. Fairway Wealth LLC acquired a new stake in shares of Intuit during the second quarter worth $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit during the third quarter worth $27,000. Denver PWM LLC purchased a new stake in shares of Intuit during the third quarter valued at $32,000. Finally, Dunhill Financial LLC increased its position in shares of Intuit by 110.3% in the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after acquiring an additional 32 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Shares of Intuit stock opened at $622.79 on Friday. The firm has a market cap of $174.33 billion, a PE ratio of 60.47, a P/E/G ratio of 3.24 and a beta of 1.24. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $648.62 and a 200 day moving average price of $637.79.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the previous year, the business earned $1.14 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. Sell-side analysts predict that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be given a $1.04 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. Intuit’s dividend payout ratio (DPR) is 40.39%.

Insider Transactions at Intuit

In related news, CEO Sasan K. Goodarzi sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the sale, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 73,655 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the completion of the transaction, the insider now owns 6,301,286 shares in the company, valued at $4,189,977,112.84. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 262,814 shares of company stock valued at $170,119,823 over the last 90 days. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on INTU shares. Piper Sandler dropped their price target on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Stifel Nicolaus reduced their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Oppenheimer upped their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, Barclays reduced their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average target price of $737.44.

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.