Intuit Inc. (NASDAQ:INTU) Shares Bought by Royal Fund Management LLC

Royal Fund Management LLC boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 813 shares of the software maker’s stock after acquiring an additional 39 shares during the quarter. Royal Fund Management LLC’s holdings in Intuit were worth $508,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Intuit by 0.5% during the third quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock worth $12,942,784,000 after acquiring an additional 117,478 shares during the last quarter. FMR LLC boosted its holdings in Intuit by 5.0% during the 3rd quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after acquiring an additional 266,803 shares during the period. Morgan Stanley grew its position in Intuit by 3.7% in the 3rd quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock valued at $1,966,304,000 after acquiring an additional 137,198 shares in the last quarter. Northern Trust Corp increased its stake in Intuit by 5.2% during the third quarter. Northern Trust Corp now owns 3,212,771 shares of the software maker’s stock worth $1,641,533,000 after purchasing an additional 160,229 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of Intuit by 9.5% during the fourth quarter. Fisher Asset Management LLC now owns 3,114,957 shares of the software maker’s stock worth $1,946,943,000 after purchasing an additional 270,414 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Up 2.5 %

Shares of Intuit stock traded up $15.23 during trading hours on Friday, reaching $629.27. 1,109,512 shares of the company’s stock were exchanged, compared to its average volume of 1,209,705. Intuit Inc. has a 52-week low of $400.22 and a 52-week high of $671.01. The firm has a market capitalization of $176.20 billion, a price-to-earnings ratio of 64.21, a price-to-earnings-growth ratio of 3.74 and a beta of 1.22. The company has a fifty day moving average of $637.56 and a 200-day moving average of $605.68. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last issued its quarterly 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. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the prior year, the company posted $1.05 EPS. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. Sell-side analysts forecast that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

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

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares in the company, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. In the last three months, insiders sold 4,717 shares of company stock worth $3,117,156. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on INTU. Oppenheimer upped their target price on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Susquehanna increased their price objective on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. BMO Capital Markets reissued an “outperform” rating and set a $700.00 target price on shares of Intuit in a research note on Tuesday, March 26th. Piper Sandler upped their price target on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Finally, Wells Fargo & Company lifted their price objective on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $650.23.

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.