Hoxton Planning & Management LLC Acquires New Shares in Intuit Inc. (NASDAQ:INTU)

Key Points

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Hoxton Planning & Management LLC purchased a new position in Intuit Inc. (NASDAQ:INTU - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,302 shares of the software maker's stock, valued at approximately $799,000.

A number of other hedge funds have also recently added to or reduced their stakes in INTU. NorthRock Partners LLC raised its holdings in shares of Intuit by 3.6% in the 1st quarter. NorthRock Partners LLC now owns 3,410 shares of the software maker's stock worth $2,094,000 after purchasing an additional 117 shares during the period. North Star Asset Management Inc. raised its holdings in shares of Intuit by 0.7% in the 1st quarter. North Star Asset Management Inc. now owns 50,389 shares of the software maker's stock worth $30,938,000 after purchasing an additional 356 shares during the period. Baader Bank Aktiengesellschaft raised its holdings in shares of Intuit by 5.5% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 3,229 shares of the software maker's stock worth $1,961,000 after purchasing an additional 169 shares during the period. Arkadios Wealth Advisors raised its holdings in shares of Intuit by 1.0% in the 1st quarter. Arkadios Wealth Advisors now owns 2,018 shares of the software maker's stock worth $1,239,000 after purchasing an additional 20 shares during the period. Finally, MMA Asset Management LLC purchased a new position in shares of Intuit in the 1st quarter worth about $212,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Sandeep Aujla sold 16,061 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the completion of the transaction, the chief financial officer owned 197 shares in the company, valued at $143,047.61. The trade was a 98.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kerry J. Mclean sold 16,700 shares of the business'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 transaction, the executive vice president owned 23,101 shares of the company's stock, valued at $16,844,325.16. This represents a 41.96% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 279,800 shares of company stock worth $209,725,054. 2.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wells Fargo & Company set a $880.00 price objective on Intuit and gave the stock an "overweight" rating in a report on Friday, June 13th. BMO Capital Markets raised their target price on Intuit from $820.00 to $870.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Piper Sandler reiterated 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. CLSA initiated coverage on Intuit in a report on Thursday, June 26th. They set an "outperform" rating and a $900.00 target price on the stock. Finally, The Goldman Sachs Group raised their target price on Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a report on Monday, May 19th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $806.27.

Intuit Stock Performance

Shares of INTU traded down $8.98 during mid-day trading on Friday, hitting $776.15. The stock had a trading volume of 1,490,057 shares, compared to its average volume of 1,382,113. The company has a market cap of $216.50 billion, a PE ratio of 63.00, a PEG ratio of 3.48 and a beta of 1.28. The company's fifty day simple moving average is $767.11 and its two-hundred day simple moving average is $661.74. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $813.70.

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 the consensus estimate of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business's revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the firm earned $9.88 EPS. On average, equities analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were given a $1.04 dividend. The ex-dividend date was Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.5%. Intuit's dividend payout ratio (DPR) is presently 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.