Legacy Bridge LLC Buys 87 Shares of Intuit Inc. (NASDAQ:INTU)

Legacy Bridge LLC increased its stake in shares of Intuit Inc. (NASDAQ:INTU – Get Rating) by 12.5% during the 4th quarter, Holdings Channel reports. The fund owned 782 shares of the software maker’s stock after acquiring an additional 87 shares during the period. Legacy Bridge LLC’s holdings in Intuit were worth $304,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. WP Advisors LLC boosted its stake in Intuit by 3.7% during the third quarter. WP Advisors LLC now owns 706 shares of the software maker’s stock worth $273,000 after acquiring an additional 25 shares in the last quarter. Halbert Hargrove Global Advisors LLC boosted its stake in Intuit by 3.6% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 739 shares of the software maker’s stock worth $286,000 after acquiring an additional 26 shares in the last quarter. Mission Creek Capital Partners Inc. boosted its stake in Intuit by 0.4% during the third quarter. Mission Creek Capital Partners Inc. now owns 5,909 shares of the software maker’s stock worth $2,289,000 after acquiring an additional 26 shares in the last quarter. Welch & Forbes LLC boosted its stake in Intuit by 0.6% during the third quarter. Welch & Forbes LLC now owns 4,542 shares of the software maker’s stock worth $1,759,000 after acquiring an additional 29 shares in the last quarter. Finally, Resources Investment Advisors LLC. boosted its stake in Intuit by 3.2% during the third quarter. Resources Investment Advisors LLC. now owns 970 shares of the software maker’s stock worth $376,000 after acquiring an additional 30 shares in the last quarter. 82.65% of the stock is owned by institutional investors.

Intuit Stock Performance

NASDAQ INTU opened at $413.69 on Friday. The company has a market capitalization of $116.06 billion, a PE ratio of 60.66, a price-to-earnings-growth ratio of 3.12 and a beta of 1.16. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.23 and a current ratio of 1.23. Intuit Inc. has a 52-week low of $339.36 and a 52-week high of $507.71. The company has a 50-day simple moving average of $408.58 and a 200 day simple moving average of $404.01.

Intuit (NASDAQ:INTU – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The software maker reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.76. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.91 billion. Intuit had a net margin of 14.22% and a return on equity of 14.89%. Intuit’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 EPS. On average, research analysts predict that Intuit Inc. will post 9.01 EPS for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 18th. Shareholders of record on Monday, April 10th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Thursday, April 6th. This represents a $3.12 annualized dividend and a dividend yield of 0.75%. Intuit’s payout ratio is presently 45.75%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. StockNews.com initiated coverage on shares of Intuit in a research note on Thursday. They set a “hold” rating on the stock. Oppenheimer dropped their price objective on shares of Intuit from $516.00 to $476.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 30th. Credit Suisse Group initiated coverage on shares of Intuit in a research note on Monday, November 21st. They issued an “outperform” rating and a $500.00 price objective on the stock. Morgan Stanley dropped their price objective on shares of Intuit from $550.00 to $520.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 22nd. Finally, Piper Sandler raised their price objective on shares of Intuit from $459.00 to $510.00 and gave the company an “overweight” rating in a research note on Friday, February 24th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus price target of $483.53.

Insider Activity

In related news, EVP James Alexander Chriss sold 597 shares of Intuit stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $400.00, for a total value of $238,800.00. Following the completion of the sale, the executive vice president now owns 344 shares of the company’s stock, valued at approximately $137,600. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Intuit news, CAO Lauren D. Hotz sold 500 shares of the stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $413.16, for a total transaction of $206,580.00. Following the completion of the transaction, the chief accounting officer now owns 1,781 shares in the company, valued at $735,837.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Alexander Chriss sold 597 shares of the stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $400.00, for a total transaction of $238,800.00. Following the transaction, the executive vice president now owns 344 shares of the company’s stock, valued at approximately $137,600. The disclosure for this sale can be found here. Insiders have sold 7,925 shares of company stock valued at $3,258,123 in the last 90 days. Insiders own 3.18% of the company’s stock.

Intuit Company Profile

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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.