Phoenix Financial Ltd. Buys 10,700 Shares of Intuit Inc. (NASDAQ:INTU)

Key Points

• Phoenix Financial Ltd. has increased its stake in Intuit Inc. by 220.6%, owning 15,551 shares worth approximately $9.56 million as of its latest SEC filing.
• Several analysts have issued upgrades to Intuit, with price targets ranging from $800 to $900, indicating strong investor confidence in the company's growth potential.
• Intuit recently announced a quarterly dividend of $1.04 per share, reflecting a 0.53% yield and a dividend payout ratio of 33.77%.

Phoenix Financial Ltd. lifted its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 220.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,551 shares of the software maker's stock after acquiring an additional 10,700 shares during the period. Phoenix Financial Ltd.'s holdings in Intuit were worth $9,562,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in INTU. Norges Bank bought a new stake in Intuit in the fourth quarter valued at $2,290,419,000. GAMMA Investing LLC lifted its stake 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 buying an additional 2,821,534 shares during the last quarter. Nicholas Hoffman & Company LLC. acquired a new position in shares of Intuit during the first quarter valued at $785,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Intuit by 33.5% during 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 valued at $1,930,765,000 after purchasing an additional 771,232 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Intuit by 13.3% during 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 purchasing an additional 620,559 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Intuit

In other news, EVP Kerry J. Mclean sold 16,700 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total value of $12,176,972.00. Following the completion of the transaction, the executive vice president directly owned 23,101 shares of the company's stock, valued at $16,844,325.16. This trade represents a 41.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Laura A. Fennell sold 25,648 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was 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 directly owned 22,796 shares of the company's stock, valued at $17,148,291. The trade was a 52.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock valued at $209,725,054 in the last quarter. Insiders own 2.68% of the company's stock.

Intuit Stock Performance

Shares of INTU stock traded up $4.77 during trading on Tuesday, hitting $803.50. The company's stock had a trading volume of 711,406 shares, compared to its average volume of 1,770,767. The company has a market cap of $224.14 billion, a PE ratio of 65.17, a P/E/G ratio of 3.49 and a beta of 1.27. 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 business has a fifty day moving average of $757.95 and a 200-day moving average of $657.44. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $807.93.

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 for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period in the prior year, the company earned $9.88 earnings per share. Intuit's revenue was up 15.1% compared to the same quarter last year. As a group, research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 10th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's dividend payout ratio (DPR) is 33.77%.

Analysts Set New Price Targets

INTU has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Evercore ISI raised their price target on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Oppenheimer raised their price target on Intuit from $742.00 to $868.00 and gave the company an "outperform" rating in a report on Monday. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price on the stock in a report on Wednesday, April 23rd. Finally, KeyCorp reiterated an "overweight" rating and issued a $850.00 price target (up previously from $770.00) on shares of Intuit in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Intuit currently has a consensus rating of "Moderate Buy" and a consensus 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.