Bouvel Investment Partners LLC Raises Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Bouvel Investment Partners LLC boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 0.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,683 shares of the software maker’s stock after purchasing an additional 49 shares during the quarter. Intuit makes up approximately 2.2% of Bouvel Investment Partners LLC’s holdings, making the stock its 10th biggest position. Bouvel Investment Partners LLC’s holdings in Intuit were worth $6,013,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Koshinski Asset Management Inc. boosted its stake in Intuit by 33.9% during the first quarter. Koshinski Asset Management Inc. now owns 1,094 shares of the software maker’s stock valued at $711,000 after buying an additional 277 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of Intuit by 6.5% during the 1st quarter. Kingsview Wealth Management LLC now owns 1,222 shares of the software maker’s stock worth $795,000 after acquiring an additional 75 shares in the last quarter. Leo Wealth LLC boosted its position in shares of Intuit by 9.1% during the 1st quarter. Leo Wealth LLC now owns 349 shares of the software maker’s stock valued at $227,000 after acquiring an additional 29 shares during the last quarter. Trillium Asset Management LLC grew its holdings in shares of Intuit by 58.3% in the first quarter. Trillium Asset Management LLC now owns 1,445 shares of the software maker’s stock valued at $939,000 after purchasing an additional 532 shares in the last quarter. Finally, Brighton Jones LLC grew its holdings in shares of Intuit by 30.8% in the first quarter. Brighton Jones LLC now owns 3,606 shares of the software maker’s stock valued at $2,344,000 after purchasing an additional 849 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $15,752,985.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by corporate insiders.

Intuit Trading Up 1.0 %

Shares of NASDAQ INTU opened at $706.25 on Thursday. Intuit Inc. has a 1-year low of $541.40 and a 1-year high of $714.78. The business has a fifty day moving average price of $628.37 and a 200 day moving average price of $628.67. The stock has a market capitalization of $197.95 billion, a P/E ratio of 67.58, a price-to-earnings-growth ratio of 3.42 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. Intuit’s revenue for the quarter was up 17.4% compared to the same quarter last year. Equities research analysts expect that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.59%. The ex-dividend date was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is currently 39.81%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on INTU shares. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Susquehanna reiterated a “positive” rating and issued a $757.00 target price on shares of Intuit in a report on Friday, August 16th. JPMorgan Chase & Co. increased their price target on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Piper Sandler restated an “overweight” rating and issued a $768.00 price target on shares of Intuit in a research report on Friday, September 27th. Finally, Barclays cut their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $735.71.

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.