Linscomb & Williams Inc. raised its holdings in Intuit Inc. (NASDAQ:INTU – Get Rating) by 13.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 470 shares of the software maker’s stock after buying an additional 54 shares during the quarter. Linscomb & Williams Inc.’s holdings in Intuit were worth $302,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of INTU. JSF Financial LLC increased its stake in shares of Intuit by 2.9% in the 4th quarter. JSF Financial LLC now owns 675 shares of the software maker’s stock valued at $434,000 after purchasing an additional 19 shares in the last quarter. Hixon Zuercher LLC increased its position in shares of Intuit by 2.4% in the fourth quarter. Hixon Zuercher LLC now owns 850 shares of the software maker’s stock valued at $547,000 after buying an additional 20 shares in the last quarter. Oakworth Capital Inc. raised its stake in shares of Intuit by 2.3% during the 4th quarter. Oakworth Capital Inc. now owns 982 shares of the software maker’s stock worth $632,000 after buying an additional 22 shares during the period. Nations Financial Group Inc. IA ADV lifted its position in shares of Intuit by 3.1% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 824 shares of the software maker’s stock valued at $445,000 after buying an additional 25 shares in the last quarter. Finally, Abacus Planning Group Inc. grew its stake in Intuit by 0.9% in the 4th quarter. Abacus Planning Group Inc. now owns 2,731 shares of the software maker’s stock valued at $1,757,000 after acquiring an additional 25 shares during the period. Institutional investors and hedge funds own 83.42% of the company’s stock.
A number of equities analysts have commented on the company. Piper Sandler decreased their target price on Intuit from $770.00 to $674.00 and set an “overweight” rating on the stock in a research report on Friday, February 25th. StockNews.com began coverage on Intuit in a report on Thursday, March 31st. They set a “hold” rating on the stock. JPMorgan Chase & Co. cut their price target on Intuit from $750.00 to $640.00 and set an “overweight” rating for the company in a report on Friday, February 25th. Wells Fargo & Company lowered their price objective on Intuit from $725.00 to $635.00 and set an “overweight” rating on the stock in a research note on Monday, April 25th. Finally, Barclays cut their target price on Intuit from $715.00 to $625.00 and set an “overweight” rating for the company in a research note on Tuesday, February 22nd. Three analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $611.45.
Intuit (NASDAQ:INTU – Get Rating) last released its quarterly earnings data on Thursday, February 24th. The software maker reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.26). The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.72 billion. Intuit had a return on equity of 20.37% and a net margin of 19.03%. The firm’s revenue for the quarter was up 69.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.16 EPS. On average, analysts predict that Intuit Inc. will post 8.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 18th. Stockholders of record on Monday, April 11th were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Friday, April 8th. Intuit’s payout ratio is currently 34.69%.
In related news, EVP Laura A. Fennell sold 59,286 shares of the firm’s stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $475.03, for a total transaction of $28,162,628.58. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP James Alexander Chriss sold 368 shares of the company’s stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $478.84, for a total value of $176,213.12. The disclosure for this sale can be found here. Company insiders own 3.27% of the company’s stock.
About Intuit (Get Rating)
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 ProConnect.
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