Heritage Investors Management Corp Acquires New Shares in Intuit Inc. (NASDAQ:INTU)

Heritage Investors Management Corp acquired a new position in Intuit Inc. (NASDAQ:INTU) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 1,660 shares of the software maker’s stock, valued at approximately $1,038,000.

A number of other hedge funds have also bought and sold shares of INTU. DiNuzzo Private Wealth Inc. purchased a new position in Intuit in the fourth quarter worth about $25,000. MCF Advisors LLC increased its holdings in Intuit by 119.0% during the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after buying an additional 25 shares during the last quarter. NewSquare Capital LLC bought a new position in Intuit in the third quarter worth approximately $25,000. Cape Investment Advisory Inc. bought a new position in Intuit in the third quarter worth approximately $26,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of Intuit during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ:INTU traded down $5.57 on Thursday, reaching $626.86. The company’s stock had a trading volume of 1,292,678 shares, compared to its average volume of 1,228,763. The company has a 50-day simple moving average of $635.87 and a 200 day simple moving average of $608.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market cap of $175.52 billion, a P/E ratio of 63.97, a PEG ratio of 3.83 and a beta of 1.22. Intuit Inc. has a 52-week low of $400.22 and a 52-week high of $671.01.

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

Intuit Dividend Announcement

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

Analyst Ratings Changes

INTU has been the topic of a number of recent research reports. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a report on Wednesday. Stifel Nicolaus boosted their price objective on Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Wells Fargo & Company raised their target price on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 21st. Oppenheimer upped their price target on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Finally, Piper Sandler increased their price objective on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus target price of $650.23.

Insider Activity

In other news, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the transaction, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the company’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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is currently owned by company insiders.

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.