Intuit Inc. (NASDAQ:INTU) is Cohen Investment Advisors LLC’s 7th Largest Position

Cohen Investment Advisors LLC lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 11.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,245 shares of the software maker’s stock after buying an additional 621 shares during the quarter. Intuit comprises 2.6% of Cohen Investment Advisors LLC’s investment portfolio, making the stock its 7th biggest position. Cohen Investment Advisors LLC’s holdings in Intuit were worth $4,059,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Intuit in the fourth quarter worth about $25,000. MCF Advisors LLC lifted its stake in Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new position in Intuit in the 4th quarter valued at $38,000. Sachetta LLC purchased a new position in shares of Intuit during the 4th quarter valued at $39,000. Finally, Webster Bank N. A. bought a new position in shares of Intuit in the fourth quarter worth $41,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the transaction, the insider now directly owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Sandeep Aujla sold 1,415 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $855,480.70. Following the sale, the chief financial officer now owns 2,332 shares in the company, valued at approximately $1,409,880.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the transaction, the insider now owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The disclosure for this sale can be found here. Insiders have sold a total of 195,963 shares of company stock worth $114,442,445 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on INTU. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Monday, May 27th. Wells Fargo & Company boosted their price objective on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday, May 21st. Royal Bank of Canada assumed coverage on shares of Intuit in a research note on Wednesday. They issued an “outperform” rating and a $760.00 target price on the stock. Piper Sandler increased their price target on shares of Intuit from $750.00 to $760.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $770.00 price objective on shares of Intuit in a report on Thursday, June 13th. Five analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $687.22.

Intuit Trading Up 0.6 %

Shares of INTU stock traded up $3.68 during mid-day trading on Thursday, reaching $659.90. The stock had a trading volume of 931,929 shares, compared to its average volume of 1,530,018. The firm has a market capitalization of $184.47 billion, a PE ratio of 60.88, a price-to-earnings-growth ratio of 3.75 and a beta of 1.23. The stock’s 50-day moving average price is $620.43 and its two-hundred day moving average price is $629.18. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. Intuit Inc. has a 52-week low of $444.19 and a 52-week high of $676.62.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results 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. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.65 billion. During the same quarter in the previous year, the business earned $7.80 EPS. Intuit’s revenue was up 11.9% compared to the same quarter last year. Equities analysts expect that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm 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 $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s payout ratio is 33.21%.

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.