Congress Park Capital LLC Has $552,000 Position in Intuit Inc. (NASDAQ:INTU)

Congress Park Capital LLC lowered its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 12.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 850 shares of the software maker’s stock after selling 125 shares during the quarter. Congress Park Capital LLC’s holdings in Intuit were worth $552,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. DiNuzzo Private Wealth Inc. bought a new position in shares of Intuit during the fourth quarter worth about $25,000. MCF Advisors LLC grew its stake in 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. Wetzel Investment Advisors Inc. bought a new position in Intuit in the fourth quarter valued at approximately $38,000. Sachetta LLC bought a new position in Intuit in the fourth quarter valued at approximately $39,000. Finally, Webster Bank N. A. bought a new position in Intuit in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Erste Group Bank restated a “hold” rating on shares of Intuit in a research note on Friday, June 14th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Monday, May 27th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Piper Sandler raised their price objective on Intuit from $750.00 to $760.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Finally, Wells Fargo & Company raised their price objective on Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $679.41.

Intuit Trading Up 1.2 %

Shares of NASDAQ INTU traded up $7.96 during trading on Friday, reaching $659.40. The company had a trading volume of 600,661 shares, compared to its average volume of 1,341,803. The company’s fifty day moving average price is $616.71 and its 200-day moving average price is $627.26. Intuit Inc. has a 12 month low of $444.19 and a 12 month high of $676.62. The stock has a market cap of $184.34 billion, a P/E ratio of 60.10, a PEG ratio of 3.66 and a beta of 1.21. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $7.80 EPS. As a group, research analysts expect that Intuit Inc. will post 11.72 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Wednesday, July 10th. Intuit’s dividend payout ratio (DPR) is currently 33.21%.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 27,309 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $593.16, for a total transaction of $16,198,606.44. Following the transaction, the insider now directly owns 6,524,412 shares of the company’s stock, valued at approximately $3,870,020,221.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the sale, the insider now directly owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Scott D. Cook sold 27,309 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $593.16, for a total value of $16,198,606.44. Following the completion of the sale, the insider now directly owns 6,524,412 shares of the company’s stock, valued at $3,870,020,221.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 193,937 shares of company stock valued at $113,123,232. 2.90% of the stock is owned by company insiders.

Intuit Profile

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.