Intuit Inc. (NASDAQ:INTU) Shares Acquired by GF Fund Management CO. LTD.

GF Fund Management CO. LTD. grew its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 0.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,094 shares of the software maker's stock after acquiring an additional 452 shares during the period. Intuit comprises approximately 0.8% of GF Fund Management CO. LTD.'s holdings, making the stock its 26th largest position. GF Fund Management CO. LTD.'s holdings in Intuit were worth $33,213,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Copia Wealth Management bought a new position in Intuit in the 4th quarter worth $25,000. NewSquare Capital LLC boosted its holdings in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after buying an additional 18 shares during the period. Summit Securities Group LLC bought a new position in Intuit in the 4th quarter worth $28,000. Heck Capital Advisors LLC bought a new position in Intuit in the 4th quarter worth $28,000. Finally, VSM Wealth Advisory LLC bought a new position in Intuit in the 4th quarter worth $35,000. Institutional investors own 83.66% of the company's stock.

Wall Street Analyst Weigh In

INTU has been the subject of several recent analyst reports. Evercore ISI upped their target price on shares of Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Piper Sandler reiterated an "overweight" rating and issued a $825.00 price target (up previously from $785.00) on shares of Intuit in a research note on Friday, May 23rd. Bank of America boosted their price target on shares of Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. KeyCorp reiterated an "overweight" rating and issued a $850.00 price target (up previously from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $850.00 price target (up previously from $760.00) on shares of Intuit in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $798.27.

Insider Activity at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 16,700 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 23,101 shares in the company, valued at $16,844,325.16. This trade represents a 41.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandeep Aujla sold 16,061 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the completion of the sale, the chief financial officer owned 197 shares of the company's stock, valued at approximately $143,047.61. This trade represents a 98.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 275,661 shares of company stock valued at $206,491,776 over the last quarter. 2.68% of the stock is owned by insiders.

Intuit Trading Up 0.4%

Shares of NASDAQ:INTU traded up $3.12 during trading on Monday, reaching $783.76. 404,201 shares of the company were exchanged, compared to its average volume of 1,615,155. The firm has a market capitalization of $218.63 billion, a PE ratio of 63.68, a P/E/G ratio of 3.47 and a beta of 1.27. The business's fifty day simple moving average is $718.90 and its 200-day simple moving average is $642.43. Intuit Inc. has a 12-month low of $532.65 and a 12-month 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.

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

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.53%. The ex-dividend date is Thursday, July 10th. Intuit's payout ratio is 33.77%.

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.