Bartlett & CO. Wealth Management LLC grew its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 0.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 126,012 shares of the software maker's stock after acquiring an additional 642 shares during the period. Intuit comprises about 1.1% of Bartlett & CO. Wealth Management LLC's investment portfolio, making the stock its 26th biggest holding. Bartlett & CO. Wealth Management LLC's holdings in Intuit were worth $77,370,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock valued at $16,991,696,000 after purchasing an additional 353,185 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Intuit by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock worth $3,833,720,000 after buying an additional 132,384 shares during the last quarter. Wellington Management Group LLP raised its holdings in Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after acquiring an additional 620,559 shares in the last quarter. Norges Bank acquired a new stake in Intuit in the fourth quarter valued at $2,290,419,000. Finally, Northern Trust Corp boosted its stake in Intuit by 17.3% during the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock valued at $2,118,682,000 after acquiring an additional 498,030 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Intuit
In other news, insider Scott D. Cook sold 72,442 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the sale, the insider now owns 6,063,495 shares in the company, valued at $4,494,808,208.55. The trade was a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 16,061 shares of the company'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 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. Insiders have sold 271,158 shares of company stock valued at $202,989,194 over the last three months. Company insiders own 2.68% of the company's stock.
Intuit Price Performance
Shares of Intuit stock opened at $772.86 on Friday. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $774.80. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock has a market cap of $215.59 billion, a PE ratio of 62.73, a price-to-earnings-growth ratio of 3.37 and a beta of 1.28. The company's 50-day moving average price is $696.71 and its two-hundred day moving average price is $637.71.
Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data 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 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 revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.88 EPS. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.
Intuit Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis 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 presently 33.77%.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on INTU. KeyCorp reissued an "overweight" rating and issued a $850.00 target price (up previously from $770.00) on shares of Intuit in a research report on Friday, May 23rd. Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 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. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Finally, Piper Sandler restated an "overweight" rating and set a $825.00 price objective (up from $785.00) on shares of Intuit in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $793.05.
View Our Latest Research Report on Intuit
Intuit Profile
(
Free Report)
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.
Further Reading
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