Abel Hall LLC Takes $236,000 Position in Intuit Inc. (NASDAQ:INTU)

Abel Hall LLC acquired a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 385 shares of the software maker's stock, valued at approximately $236,000.

Several other hedge funds and other institutional investors have also made changes to their positions in INTU. Copia Wealth Management acquired a new position in Intuit during the fourth quarter worth approximately $25,000. Summit Securities Group LLC purchased a new position in Intuit during the fourth quarter worth about $28,000. Heck Capital Advisors LLC purchased a new position in Intuit during the fourth quarter worth about $28,000. Olde Wealth Management LLC purchased a new position in Intuit during the first quarter worth about $37,000. Finally, Atlantic Edge Private Wealth Management LLC lifted its position in Intuit by 523.1% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock worth $50,000 after buying an additional 68 shares during the period. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insiders Place Their Bets

In related news, EVP Marianna Tessel sold 34,329 shares of Intuit stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total value of $26,118,876.36. Following the transaction, the executive vice president directly owned 40,767 shares in the company, valued at $31,017,164.28. The trade was a 45.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kerry J. Mclean sold 16,700 shares of Intuit stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total value of $12,176,972.00. Following the transaction, the executive vice president owned 23,101 shares in the company, valued at $16,844,325.16. This represents a 41.96% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 279,800 shares of company stock worth $209,725,054. Corporate insiders own 2.68% of the company's stock.

Intuit Price Performance

Shares of INTU traded up $5.21 during midday trading on Thursday, reaching $781.21. The stock had a trading volume of 1,379,241 shares, compared to its average volume of 1,375,126. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $790.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The firm's 50 day moving average price is $753.08 and its 200-day moving average price is $654.63. The company has a market capitalization of $217.92 billion, a P/E ratio of 63.41, a P/E/G ratio of 3.44 and a beta of 1.27.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company's quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm posted $9.88 EPS. On average, analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Thursday, July 10th. Intuit's payout ratio is 33.77%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on INTU shares. Morgan Stanley raised their price objective on Intuit from $785.00 to $900.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Piper Sandler reiterated an "overweight" rating and issued a $825.00 target price (up previously from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. Finally, Hsbc Global Res upgraded Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Intuit presently has an average rating of "Moderate Buy" and an average price target of $800.55.

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.