North Star Asset Management Inc. Has $30.94 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Key Points

• North Star Asset Management Inc. increased its stake in Intuit Inc. by 0.7% during the first quarter, now holding 50,389 shares valued at approximately $30.9 million.
• Several research firms have upgraded their ratings and price targets for Intuit, with Evercore ISI raising the target from $685 to $785 and CLSA setting a new target of $900.
• Intuit reported a quarterly earnings per share (EPS) of $11.65, exceeding expectations, and a revenue of $7.75 billion, indicating a year-over-year growth of 15.1%.

North Star Asset Management Inc. boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,389 shares of the software maker's stock after purchasing an additional 356 shares during the period. Intuit comprises 1.4% of North Star Asset Management Inc.'s portfolio, making the stock its 18th biggest holding. North Star Asset Management Inc.'s holdings in Intuit were worth $30,938,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft increased its holdings in shares of Intuit by 5.5% during the first quarter. Baader Bank Aktiengesellschaft now owns 3,229 shares of the software maker's stock worth $1,961,000 after buying an additional 169 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in shares of Intuit by 1.0% during the first quarter. Arkadios Wealth Advisors now owns 2,018 shares of the software maker's stock worth $1,239,000 after buying an additional 20 shares in the last quarter. MMA Asset Management LLC acquired a new stake in shares of Intuit during the first quarter worth approximately $212,000. Vestcor Inc increased its holdings in shares of Intuit by 4.7% during the first quarter. Vestcor Inc now owns 5,410 shares of the software maker's stock worth $3,322,000 after buying an additional 241 shares in the last quarter. Finally, Brucke Financial Inc. increased its holdings in shares of Intuit by 3.2% during the first quarter. Brucke Financial Inc. now owns 718 shares of the software maker's stock worth $451,000 after buying an additional 22 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

Intuit Trading Down 1.1%

Shares of NASDAQ INTU traded down $8.98 during midday trading on Friday, reaching $776.15. 1,490,057 shares of the stock were exchanged, compared to its average volume of 1,382,113. The business has a 50-day simple moving average of $765.98 and a two-hundred day simple moving average of $660.69. The company has a market capitalization of $216.51 billion, a price-to-earnings ratio of 63.00, a P/E/G ratio of 3.48 and a beta of 1.28. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $813.70. 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 announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. The company had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business's quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the firm posted $9.88 earnings per share. As a group, equities research analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's payout ratio is currently 33.77%.

Insiders Place Their Bets

In related news, CAO Lauren D. Hotz sold 1,738 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $784.09, for a total value of $1,362,748.42. Following the sale, the chief accounting officer directly owned 455 shares of the company's stock, valued at approximately $356,760.95. The trade was a 79.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard L. Dalzell sold 333 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total transaction of $255,887.19. Following the completion of the sale, the director directly owned 15,474 shares in the company, valued at $11,890,685.82. This represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 279,800 shares of company stock worth $209,725,054 in the last ninety days. 2.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Evercore ISI raised their price objective on shares of Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Wall Street Zen raised shares of Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. KeyCorp reissued an "overweight" rating and issued a $850.00 price target (up previously from $770.00) on shares of Intuit in a report on Friday, May 23rd. Piper Sandler reissued an "overweight" rating and issued a $825.00 price target (up previously from $785.00) on shares of Intuit in a report on Friday, May 23rd. Finally, CLSA assumed coverage on shares of Intuit in a report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $806.27.

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.