Pallas Capital Advisors LLC Invests $255,000 in Intuit Inc. (NASDAQ:INTU)

Pallas Capital Advisors LLC bought a new position in Intuit Inc. (NASDAQ:INTU - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 415 shares of the software maker's stock, valued at approximately $255,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Brighton Jones LLC lifted its holdings in Intuit by 61.3% during the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock worth $2,233,000 after buying an additional 1,350 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Intuit during the 4th quarter worth $104,278,000. Revolve Wealth Partners LLC lifted its holdings in Intuit by 145.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock worth $511,000 after buying an additional 482 shares in the last quarter. Sovran Advisors LLC acquired a new position in Intuit during the 4th quarter worth $250,000. Finally, Van ECK Associates Corp lifted its holdings in Intuit by 0.8% during the 4th quarter. Van ECK Associates Corp now owns 60,419 shares of the software maker's stock worth $37,973,000 after buying an additional 497 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Piper Sandler reaffirmed an "overweight" rating and set a $825.00 price objective (up previously from $785.00) on shares of Intuit in a report on Friday, May 23rd. Bank of America upped their price objective on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Morgan Stanley reaffirmed an "overweight" rating and set a $785.00 price objective (up previously from $720.00) on shares of Intuit in a report on Friday, May 23rd. Royal Bank of Canada reiterated an "outperform" rating and set a $850.00 target price (up previously from $760.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, HSBC upgraded shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price for the company in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $787.95.

Intuit Stock Down 1.6%

Intuit stock opened at $753.98 on Friday. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $773.45. The firm has a 50 day moving average price of $664.85 and a 200-day moving average price of $630.29. The company has a market capitalization of $210.32 billion, a P/E ratio of 73.20, a P/E/G ratio of 2.85 and a beta of 1.28. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU - Get Free Report) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company's revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.88 EPS. As a group, equities analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is currently 33.77%.

Insider Activity

In related news, insider Scott D. Cook sold 72,442 shares of Intuit stock in a transaction on 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 transaction, the insider now owns 6,063,495 shares in the company, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark P. Notarainni sold 469 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $725.00, for a total transaction of $340,025.00. Following the completion of the transaction, the executive vice president now owns 19 shares in the company, valued at $13,775. The trade was a 96.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 288,408 shares of company stock worth $213,441,865. 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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