Intuit Inc. (NASDAQ:INTU) Stock Position Boosted by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 48.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,837 shares of the software maker’s stock after buying an additional 600 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Intuit were worth $1,156,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTU. American Century Companies Inc. lifted its position in Intuit by 10.6% in the second quarter. American Century Companies Inc. now owns 51,454 shares of the software maker’s stock worth $33,816,000 after purchasing an additional 4,913 shares during the period. Thompson Siegel & Walmsley LLC bought a new stake in shares of Intuit in the 2nd quarter worth $1,342,000. Dimensional Fund Advisors LP raised its stake in shares of Intuit by 13.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 550,874 shares of the software maker’s stock worth $362,037,000 after buying an additional 63,209 shares in the last quarter. One Capital Management LLC acquired a new stake in shares of Intuit in the second quarter valued at $202,000. Finally, Lmcg Investments LLC boosted its stake in Intuit by 3.2% during the second quarter. Lmcg Investments LLC now owns 15,151 shares of the software maker’s stock valued at $9,957,000 after buying an additional 471 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Price Performance

Shares of INTU opened at $623.80 on Wednesday. The business’s 50-day moving average is $649.57 and its 200-day moving average is $637.71. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $174.61 billion, a price-to-earnings ratio of 60.56, a P/E/G ratio of 3.24 and a beta of 1.25. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. Equities research analysts expect that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a dividend of $1.04 per share. The ex-dividend date is Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. Intuit’s dividend payout ratio is 40.39%.

Analyst Upgrades and Downgrades

INTU has been the topic of several research reports. Stifel Nicolaus dropped their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Barclays reduced their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Oppenheimer upped their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, Piper Sandler reissued an “overweight” rating and set a $765.00 price objective on shares of Intuit in a research note on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Insider Buying and Selling

In related news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the sale, the executive vice president now owns 489 shares of the company’s stock, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Sandeep Aujla sold 109 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the transaction, the chief financial officer now owns 1,944 shares in the company, valued at $1,221,804. This represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 293,014 shares of company stock worth $188,992,187. Corporate insiders own 2.68% of the company’s stock.

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.