Liberty Wealth Management LLC Has $21.01 Million Stake in Intuit Inc. (NASDAQ:INTU)

Key Points

• Liberty Wealth Management LLC significantly increased its stake in Intuit Inc. by 1,595.7%, owning 34,219 shares valued at approximately $21 million.
• Institutional investors collectively own 83.66% of Intuit’s stock, with notable increases in holdings from firms like Capitolis Liquid Global Markets LLC and China Universal Asset Management Co. Ltd..
• Analysts have a positive outlook on Intuit, with the majority rating it a "buy" and setting an average target price of $806.27 per share following strong earnings performance.

Liberty Wealth Management LLC lifted its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 1,595.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,219 shares of the software maker's stock after acquiring an additional 32,201 shares during the period. Liberty Wealth Management LLC's holdings in Intuit were worth $21,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. GAMMA Investing LLC grew its holdings in Intuit by 69,701.9% in the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock valued at $17,348,790,000 after purchasing an additional 2,821,534 shares during the last quarter. Nicholas Hoffman & Company LLC. acquired a new position in shares of Intuit in the 1st quarter worth $785,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Intuit by 33.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock worth $1,930,765,000 after buying an additional 771,232 shares during the last quarter. Unisphere Establishment boosted its stake in Intuit by 50.0% during the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock valued at $942,750,000 after purchasing an additional 500,000 shares during the period. Finally, Northern Trust Corp lifted its stake in Intuit by 17.3% during the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock worth $2,118,682,000 after purchasing an additional 498,030 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Sandeep Aujla sold 16,061 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total value of $11,662,373.93. Following the completion of the sale, the chief financial officer directly owned 197 shares of the company's stock, valued at approximately $143,047.61. This represents a 98.79% 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 this hyperlink. Also, EVP Marianna Tessel sold 34,329 shares of Intuit stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the completion of the transaction, the executive vice president owned 40,767 shares in the company, valued at approximately $31,017,164.28. This represents a 45.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 279,800 shares of company stock valued at $209,725,054 over the last ninety days. Company insiders own 2.68% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on INTU shares. Wall Street Zen raised shares of Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the company from $600.00 to $700.00 in a research note on Thursday, April 17th. Susquehanna reaffirmed a "positive" rating on shares of Intuit in a research note on Friday, May 23rd. HSBC upgraded shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price on the stock in a research note on Wednesday, April 23rd. Finally, Jefferies Financial Group set a $850.00 price target on shares of Intuit and gave the stock a "buy" rating in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Intuit has an average rating of "Moderate Buy" and a consensus target price of $806.27.

Intuit Trading Down 1.4%

Intuit stock traded down $11.13 during trading on Tuesday, hitting $773.74. The company had a trading volume of 156,611 shares, compared to its average volume of 1,761,581. The stock has a market cap of $215.83 billion, a price-to-earnings ratio of 62.84, a price-to-earnings-growth ratio of 2.99 and a beta of 1.28. The company has a current ratio of 1.45, a quick 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. The company's 50 day simple moving average is $768.40 and its 200-day simple moving average is $663.67.

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, beating the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business's quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the business posted $9.88 EPS. As a group, analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

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

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.