Goldstein Advisors LLC Invests $234,000 in Intuit Inc. (NASDAQ:INTU)

Goldstein Advisors LLC bought a new position in Intuit Inc. (NASDAQ:INTU - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 382 shares of the software maker's stock, valued at approximately $234,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC increased its position in shares of Intuit by 61.3% during the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock worth $2,233,000 after purchasing an additional 1,350 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of Intuit by 145.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock worth $511,000 after purchasing an additional 482 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in shares of Intuit by 14.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker's stock worth $1,252,000 after purchasing an additional 248 shares during the last quarter. IFP Advisors Inc increased its position in shares of Intuit by 0.9% during the 4th quarter. IFP Advisors Inc now owns 3,961 shares of the software maker's stock worth $2,490,000 after purchasing an additional 35 shares during the last quarter. Finally, BankPlus Trust Department acquired a new stake in shares of Intuit during the 4th quarter worth about $61,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. KeyCorp reissued an "overweight" rating and set a $850.00 price objective (up from $770.00) on shares of Intuit in a research report on Friday, May 23rd. Stifel Nicolaus raised their target price on Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Susquehanna restated a "positive" rating on shares of Intuit in a report on Friday, May 23rd. Barclays restated an "overweight" rating and set a $815.00 target price (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Piper Sandler restated an "overweight" rating and set a $825.00 target price (up from $785.00) on shares of Intuit in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $793.05.

Intuit Stock Up 0.5%

Shares of Intuit stock traded up $3.71 on Friday, reaching $776.57. 2,051,675 shares of the company were exchanged, compared to its average volume of 1,613,471. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $787.22. The company has a market cap of $216.62 billion, a P/E ratio of 63.03, a price-to-earnings-growth ratio of 3.45 and a beta of 1.28. 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 stock's 50 day moving average price is $700.54 and its 200-day moving average price is $638.14.

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

Intuit Dividend Announcement

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

Insider Buying and Selling

In other news, CFO Sandeep Aujla sold 16,061 shares of the business'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 now owns 197 shares in the company, valued at approximately $143,047.61. The trade was a 98.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lauren D. Hotz sold 1,738 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the sale, the chief accounting officer now owns 455 shares of the company's stock, valued at $356,760.95. This represents a 79.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 272,896 shares of company stock worth $204,351,942 over the last 90 days. 2.68% of the stock is owned by insiders.

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.