Graypoint LLC Buys 1,606 Shares of Intuit Inc. (NASDAQ:INTU)

Graypoint LLC increased its stake in Intuit Inc. (NASDAQ:INTU) by 65.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,045 shares of the software maker’s stock after purchasing an additional 1,606 shares during the quarter. Graypoint LLC’s holdings in Intuit were worth $2,542,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its holdings in Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares during the period. Harvest Portfolios Group Inc. grew its position in Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after buying an additional 1,853 shares in the last quarter. GAMMA Investing LLC increased its stake in Intuit by 33.7% during the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after acquiring an additional 968 shares during the period. Retireful LLC acquired a new position in Intuit in the 3rd quarter valued at approximately $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Intuit in the 3rd quarter worth approximately $56,144,000. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Barclays lowered their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Scotiabank assumed coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Finally, Piper Sandler reissued an “overweight” rating and issued a $765.00 target price on shares of Intuit in a report on Friday. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $737.44.

Intuit Stock Performance

Shares of NASDAQ:INTU traded down $1.58 on Friday, reaching $623.43. 2,130,734 shares of the company’s stock were exchanged, compared to its average volume of 1,289,913. The company has a market capitalization of $174.51 billion, a price-to-earnings ratio of 60.53, a PEG ratio of 3.24 and a beta of 1.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average of $649.55 and a 200-day moving average of $638.16. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.14 EPS. On average, research analysts predict that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders 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 yield of 0.67%. Intuit’s payout ratio is 40.39%.

Insider Buying and Selling at Intuit

In other Intuit news, CEO Sasan K. Goodarzi sold 26,562 shares of Intuit stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total value of $16,624,890.18. Following the sale, the chief executive officer now owns 37,869 shares of the company’s stock, valued at approximately $23,701,828.41. The trade was a 41.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 291,936 shares of company stock valued at $188,324,604. Corporate insiders own 2.68% of the company’s stock.

Intuit Company 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.