Cohen Investment Advisors LLC Acquires 320,754 Shares of Intuit Inc. (NASDAQ:INTU)

Cohen Investment Advisors LLC increased its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 5,465.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 326,623 shares of the software maker's stock after purchasing an additional 320,754 shares during the period. Intuit accounts for 5.2% of Cohen Investment Advisors LLC's portfolio, making the stock its 7th largest holding. Cohen Investment Advisors LLC owned about 0.12% of Intuit worth $200,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of INTU. Norges Bank bought a new position in Intuit in the 4th quarter worth approximately $2,290,419,000. GAMMA Investing LLC raised its position in Intuit by 69,701.9% in the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock worth $17,348,790,000 after purchasing an additional 2,821,534 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Intuit by 33.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock worth $1,930,765,000 after purchasing an additional 771,232 shares during the last quarter. Wellington Management Group LLP raised its position in Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after purchasing an additional 620,559 shares during the last quarter. Finally, Unisphere Establishment raised its position in Intuit by 50.0% in the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock worth $942,750,000 after purchasing an additional 500,000 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Insider Transactions at Intuit

In related news, EVP Mark P. Notarainni sold 469 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $725.00, for a total transaction of $340,025.00. Following the completion of the transaction, the executive vice president now directly owns 19 shares of the company's stock, valued at approximately $13,775. This represents a 96.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 72,442 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the transaction, the insider now directly owns 6,063,495 shares of the company's stock, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 272,896 shares of company stock valued at $204,351,942 over the last three months. Company insiders own 2.68% of the company's stock.

Intuit Stock Up 0.5%

NASDAQ:INTU opened at $776.57 on Friday. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $787.22. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock has a market cap of $216.62 billion, a price-to-earnings ratio of 63.03, a PEG ratio of 3.45 and a beta of 1.28. The stock has a 50-day moving average price of $700.54 and a two-hundred day moving average price of $638.38.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. The company had revenue of $7.75 billion during 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%. Intuit's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.88 earnings per share. As a group, equities analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. Intuit's dividend payout ratio is currently 33.77%.

Analyst Ratings Changes

Several research firms recently weighed in on INTU. Oppenheimer restated an "outperform" rating and issued a $742.00 price objective (up previously from $642.00) on shares of Intuit in a research report on Friday, May 23rd. Piper Sandler restated an "overweight" rating and issued a $825.00 price objective (up previously from $785.00) on shares of Intuit in a research report on Friday, May 23rd. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target on the stock in a research note on Wednesday, April 23rd. Barclays reaffirmed an "overweight" rating and set a $815.00 price objective (up from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $793.05.

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.

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