Breed s Hill Capital LLC Purchases Shares of 624 Intuit Inc. (NASDAQ:INTU)

Breed s Hill Capital LLC acquired a new position in shares of Intuit Inc. (NASDAQ:INTU) during the 4th quarter, Holdings Channel reports. The firm acquired 624 shares of the software maker’s stock, valued at approximately $390,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Parnassus Investments LLC lifted its stake in shares of Intuit by 42,268.5% during the 3rd quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock worth $312,161,000 after buying an additional 609,512 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Intuit by 61.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock worth $690,244,000 after purchasing an additional 514,259 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Intuit by 60,534.9% in the 4th quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after purchasing an additional 472,172 shares during the period. Fisher Asset Management LLC grew its stake in shares of Intuit by 9.5% in the fourth quarter. Fisher Asset Management LLC now owns 3,114,957 shares of the software maker’s stock valued at $1,946,943,000 after acquiring an additional 270,414 shares in the last quarter. Finally, FMR LLC increased its position in Intuit by 5.0% during the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock worth $2,879,982,000 after acquiring an additional 266,803 shares during the period. 83.66% of the stock is owned by institutional investors.

Intuit Trading Down 0.9 %

Shares of INTU stock traded down $5.57 during mid-day trading on Thursday, reaching $626.86. 1,292,678 shares of the stock traded hands, compared to its average volume of 1,228,763. The stock’s fifty day simple moving average is $635.87 and its two-hundred day simple moving average is $608.61. Intuit Inc. has a 1-year low of $400.22 and a 1-year high of $671.01. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The company has a market cap of $175.52 billion, a price-to-earnings ratio of 63.97, a price-to-earnings-growth ratio of 3.83 and a beta of 1.22.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 EPS. On average, research analysts anticipate that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were given a $0.90 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

Analyst Ratings Changes

A number of analysts have issued reports on INTU shares. Stifel Nicolaus boosted their price objective on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a report on Friday, February 23rd. BMO Capital Markets reissued an “outperform” rating and set a $700.00 price target on shares of Intuit in a research report on Tuesday, March 26th. Piper Sandler lifted their price objective on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. KeyCorp increased their target price on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Finally, Oppenheimer raised their price target on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $650.23.

Insider Activity

In related news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,717 shares of company stock valued at $3,117,156. Company 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.