MainStreet Investment Advisors LLC Makes New $219,000 Investment in Intuit Inc. (NASDAQ:INTU)

MainStreet Investment Advisors LLC purchased a new position in Intuit Inc. (NASDAQ:INTUFree Report) during the fourth quarter, Holdings Channel.com reports. The fund purchased 351 shares of the software maker’s stock, valued at approximately $219,000.

Other institutional investors have also bought and sold shares of the company. NewSquare Capital LLC purchased a new stake in shares of Intuit during the 3rd quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Intuit during the fourth quarter worth $25,000. Cape Investment Advisory Inc. bought a new position in shares of Intuit in the third quarter worth $26,000. MCF Advisors LLC grew its position in shares of Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after purchasing an additional 25 shares in the last quarter. Finally, Aspire Private Capital LLC grew its position in shares of Intuit by 144.4% in the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock valued at $34,000 after purchasing an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the sale, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related 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 filing with the SEC, which can be accessed through the SEC website. Also, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on INTU. JPMorgan Chase & Co. raised their target price on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Morgan Stanley upped their target price on shares of Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. BMO Capital Markets reissued an “outperform” rating and issued a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. Barclays increased their price objective on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Finally, Piper Sandler boosted their target price on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average target price of $657.95.

View Our Latest Stock Analysis on INTU

Intuit Trading Up 1.2 %

Shares of INTU traded up $7.81 during mid-day trading on Friday, reaching $661.18. The company’s stock had a trading volume of 774,761 shares, compared to its average volume of 1,102,347. The stock has a market cap of $185.13 billion, a PE ratio of 67.47, a P/E/G ratio of 4.02 and a beta of 1.22. 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 Inc. has a 52 week low of $400.22 and a 52 week high of $671.01. The company’s fifty day moving average price is $633.93 and its two-hundred day moving average price is $616.90.

Intuit (NASDAQ:INTUGet Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the business posted $1.05 EPS. The firm’s revenue was up 11.3% compared to the same quarter last year. On average, analysts predict that Intuit Inc. will post 11.28 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were issued a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.54%. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

Intuit Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTUFree Report).

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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