Intuit Inc. (NASDAQ:INTU) Position Boosted by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. boosted its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 20.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,206 shares of the software maker's stock after acquiring an additional 369 shares during the period. Thurston Springer Miller Herd & Titak Inc.'s holdings in Intuit were worth $1,356,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Copia Wealth Management bought a new stake in shares of Intuit in the fourth quarter valued at approximately $25,000. NewSquare Capital LLC increased its position in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after purchasing an additional 18 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Intuit during the 4th quarter valued at $28,000. Summit Securities Group LLC purchased a new stake in shares of Intuit in the 4th quarter worth about $28,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Intuit in the 4th quarter worth about $28,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Performance

INTU traded up $4.94 during trading on Friday, hitting $771.58. The company's stock had a trading volume of 1,475,201 shares, compared to its average volume of 1,619,358. 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 Inc. has a one year low of $532.65 and a one year high of $774.80. The firm has a market cap of $215.23 billion, a PE ratio of 74.91, a P/E/G ratio of 2.85 and a beta of 1.28. The business's 50 day simple moving average is $643.09 and its 200-day simple moving average is $625.50.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the company posted $9.88 EPS. The business's revenue was up 15.1% on a year-over-year basis. As a group, sell-side analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a 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

INTU has been the topic of several research analyst reports. Hsbc Global Res upgraded shares of Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Barclays reissued an "overweight" rating and set a $815.00 target price (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Piper Sandler reaffirmed an "overweight" rating and set a $825.00 price objective (up from $785.00) on shares of Intuit in a report on Friday, May 23rd. Stifel Nicolaus increased their price target on Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $785.00 price objective (up previously from $720.00) on shares of Intuit in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Intuit presently has a consensus rating of "Moderate Buy" and a consensus target price of $785.33.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 72,442 shares of the firm'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 of the company's stock, valued at approximately $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eve B. Burton sold 1,702 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now directly owns 8 shares in the company, valued at $4,800. This represents a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 225,592 shares of company stock valued at $165,325,437 over the last ninety days. Corporate insiders own 2.68% of the company's stock.

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.