Intuit Inc. (NASDAQ:INTU) Shares Purchased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Intuit Inc. by 4.0% in the first quarter, now holding 0.13% of the company valued at approximately $223.49 million.
• Intuit reported a quarterly EPS of $11.65, surpassing estimates and demonstrating a 15.1% year-over-year revenue increase of $7.75 billion.
• Intuit recently announced a quarterly dividend of $1.04 per share, with a current dividend yield of 0.6%.

Russell Investments Group Ltd. boosted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 4.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 365,081 shares of the software maker's stock after buying an additional 14,137 shares during the period. Russell Investments Group Ltd. owned 0.13% of Intuit worth $223,491,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Financial Management Professionals Inc. increased its stake in Intuit by 18.4% in the 1st quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock worth $71,000 after buying an additional 18 shares in the last quarter. Chris Bulman Inc grew its position in shares of Intuit by 1.2% during the first quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock valued at $935,000 after purchasing an additional 18 shares in the last quarter. Kolinsky Wealth Management LLC grew its position in shares of Intuit by 1.6% during the fourth quarter. Kolinsky Wealth Management LLC now owns 1,192 shares of the software maker's stock valued at $749,000 after purchasing an additional 19 shares in the last quarter. Norden Group LLC grew its position in shares of Intuit by 1.2% during the first quarter. Norden Group LLC now owns 1,663 shares of the software maker's stock valued at $1,021,000 after purchasing an additional 19 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC grew its position in shares of Intuit by 2.6% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 791 shares of the software maker's stock valued at $486,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 25,648 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $752.25, for a total value of $19,293,708.00. Following the completion of the transaction, the executive vice president owned 22,796 shares in the company, valued at approximately $17,148,291. This represents a 52.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sandeep Aujla sold 16,061 shares of the company's stock in a transaction dated 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 transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 279,800 shares of company stock valued at $209,725,054. Insiders own 2.68% of the company's stock.

Intuit Stock Down 0.2%

INTU stock traded down $1.77 during trading on Wednesday, hitting $711.71. 1,602,299 shares of the company's stock traded hands, compared to its average volume of 1,592,884. The firm has a market capitalization of $198.53 billion, a P/E ratio of 57.77, a PEG ratio of 2.75 and a beta of 1.28. The business has a fifty day simple moving average of $765.97 and a two-hundred day simple moving average of $669.47. 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 1 year low of $532.65 and a 1 year high of $813.70.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business's revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the company earned $9.88 earnings per share. Sell-side analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.6%. Intuit's dividend payout ratio is 33.77%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on INTU shares. Stifel Nicolaus raised their price objective on Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Piper Sandler restated an "overweight" rating and set a $825.00 price objective (up previously from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Susquehanna restated a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. Barclays restated an "overweight" rating and set a $815.00 price objective (up previously from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Morgan Stanley raised their price objective on Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a sell rating, two have given 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.com, Intuit has a consensus rating of "Moderate Buy" and an average price target of $806.27.

About Intuit

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.