Planning Alternatives Ltd. ADV Makes New Investment in Intuit Inc. (NASDAQ:INTU)

Key Points

• Planning Alternatives Ltd. ADV has acquired 446 shares of Intuit Inc., valued at approximately $274,000, marking a new position in the software company.
• Institutional investors own 83.66% of Intuit's stock, with notable recent activity including Pinnacle Financial Partners increasing their holdings by 3.6% in the first quarter.
• Intuit reported earnings of $11.65 per share, exceeding estimates, and had revenue of $7.75 billion, a 15.1% year-over-year increase.

Planning Alternatives Ltd. ADV bought a new position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 446 shares of the software maker's stock, valued at approximately $274,000.

Several other hedge funds also recently made changes to their positions in INTU. Brown Advisory Inc. increased its position in Intuit by 7.9% in the first quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock worth $2,114,950,000 after buying an additional 252,265 shares during the period. Northern Trust Corp grew its position in shares of 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 acquiring an additional 498,030 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Intuit by 33.5% in the 4th 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 acquiring an additional 771,232 shares during the period. GAMMA Investing LLC lifted its position in Intuit by 69,701.9% in the 1st 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. Finally, T. Rowe Price Investment Management Inc. boosted its stake in Intuit by 1.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,804,476 shares of the software maker's stock valued at $1,134,114,000 after purchasing an additional 33,265 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Trading Down 2.3%

Shares of INTU stock traded down $17.86 during trading hours on Thursday, reaching $761.61. 1,435,760 shares of the stock traded hands, compared to its average volume of 1,440,471. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $212.45 billion, a PE ratio of 61.82, a PEG ratio of 3.00 and a beta of 1.28. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $813.70. The business has a fifty day moving average price of $769.33 and a 200 day moving average price of $666.28.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results 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 company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company's revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the business earned $9.88 EPS. On average, equities research analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

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

Insider Buying and Selling

In related news, CFO Sandeep Aujla sold 16,061 shares of the firm'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 directly owned 197 shares in the company, valued at approximately $143,047.61. This trade represents a 98.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kerry J. Mclean sold 16,700 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the completion of the sale, the executive vice president owned 23,101 shares of the company's stock, valued at approximately $16,844,325.16. The trade was a 41.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 279,800 shares of company stock worth $209,725,054 over the last ninety days. 2.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on INTU shares. Morgan Stanley raised their price target on shares of Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. BMO Capital Markets raised their target price on Intuit from $820.00 to $870.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. Piper Sandler reiterated an "overweight" rating and set a $825.00 price target (up previously from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Scotiabank raised Intuit from a "sector perform" rating to a "sector outperform" rating and increased their price target for the stock from $600.00 to $700.00 in a research note on Thursday, April 17th. Finally, KeyCorp restated an "overweight" rating and set a $850.00 price objective (up from $770.00) 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 issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Intuit currently has a consensus rating of "Moderate Buy" and an average target price 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.