Intuit Inc. (NASDAQ:INTU) Shares Acquired by Perigon Wealth Management LLC

Perigon Wealth Management LLC boosted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 9.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,242 shares of the software maker's stock after purchasing an additional 449 shares during the quarter. Perigon Wealth Management LLC's holdings in Intuit were worth $3,218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in INTU. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Intuit by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock valued at $107,854,000 after acquiring an additional 3,648 shares during the last quarter. Capitolis Liquid Global Markets LLC acquired a new position in Intuit during the fourth quarter worth approximately $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Intuit during the fourth quarter worth approximately $237,244,000. Aigen Investment Management LP acquired a new position in shares of Intuit in the 4th quarter valued at $2,958,000. Finally, Baer Investment Advisory LLC acquired a new position in shares of Intuit in the 4th quarter valued at $3,261,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Performance

Intuit stock opened at $772.86 on Friday. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $774.80. The company has a market capitalization of $215.59 billion, a price-to-earnings ratio of 62.73, a price-to-earnings-growth ratio of 3.37 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 firm's fifty day moving average price is $696.71 and its 200 day moving average price is $637.71.

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

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders 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 dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is currently 33.77%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on INTU. Barclays restated an "overweight" rating and set a $815.00 price objective (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. Hsbc Global Res upgraded Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Piper Sandler reaffirmed an "overweight" rating and issued a $825.00 price objective (up from $785.00) on shares of Intuit in a research note on Friday, May 23rd. Wells Fargo & Company set a $880.00 target price on Intuit and gave the stock an "overweight" rating in a report on Friday, June 13th. Finally, Stifel Nicolaus raised their price target on shares of Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $793.05.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 72,442 shares of the company's stock in a transaction dated 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 sale, the insider now owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. This represents a 1.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Marianna Tessel sold 34,329 shares of Intuit stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 40,767 shares of the company's stock, valued at $31,017,164.28. This trade represents a 45.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 271,158 shares of company stock valued at $202,989,194. 2.68% of the stock is currently owned by corporate insiders.

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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