Intuit Inc. (NASDAQ:INTU) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. raised its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 83.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 114,950 shares of the software maker's stock after purchasing an additional 52,334 shares during the quarter. Federated Hermes Inc.'s holdings in Intuit were worth $71,847,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fairfield Bush & CO. grew its holdings in shares of Intuit by 39.6% in the first quarter. Fairfield Bush & CO. now owns 3,648 shares of the software maker's stock valued at $1,754,000 after purchasing an additional 1,035 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Intuit by 10.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 504,309 shares of the software maker's stock worth $242,492,000 after acquiring an additional 48,196 shares during the period. Cetera Investment Advisers increased its position in shares of Intuit by 8.4% during the first quarter. Cetera Investment Advisers now owns 3,227 shares of the software maker's stock worth $1,552,000 after acquiring an additional 249 shares during the period. Baird Financial Group Inc. raised its stake in shares of Intuit by 7.1% in the first quarter. Baird Financial Group Inc. now owns 53,691 shares of the software maker's stock valued at $25,825,000 after acquiring an additional 3,576 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Intuit by 6.6% in the first quarter. Mackenzie Financial Corp now owns 34,207 shares of the software maker's stock valued at $16,448,000 after purchasing an additional 2,127 shares during the period. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Buying and Selling

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the business's stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Alex G. Balazs sold 280 shares of the firm's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of the business's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock valued at $3,117,156 over the last three months. 2.90% of the stock is currently owned by company insiders.

Intuit Stock Performance

Shares of Intuit stock traded down $3.21 during trading on Friday, reaching $605.17. The company's stock had a trading volume of 1,607,538 shares, compared to its average volume of 1,248,751. The company has a 50-day moving average price of $642.93 and a two-hundred day moving average price of $599.06. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The firm has a market cap of $169.45 billion, a PE ratio of 61.75, a P/E/G ratio of 3.73 and a beta of 1.21. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period last year, the firm posted $1.05 EPS. Intuit's revenue for the quarter was up 11.3% on a year-over-year basis. On average, analysts forecast that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit's dividend payout ratio (DPR) is presently 36.73%.

Analyst Ratings Changes

Several brokerages have weighed in on INTU. Mizuho upped their price target on Intuit from $670.00 to $725.00 and gave the stock a "buy" rating in a report on Friday, February 23rd. Evercore ISI raised their target price on shares of Intuit from $670.00 to $725.00 and gave the company an "outperform" rating in a report on Friday, February 23rd. Oppenheimer lifted their price target on shares of Intuit from $678.00 to $712.00 and gave the stock an "outperform" rating in a research note on Friday, February 23rd. Piper Sandler increased their price objective on shares of Intuit from $642.00 to $750.00 and gave the company an "overweight" rating in a research report on Friday, February 23rd. Finally, Stifel Nicolaus raised their price objective on shares of Intuit from $600.00 to $720.00 and gave the company a "buy" rating in a report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $645.00.

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.