Legacy Bridge LLC Buys 87 Shares of Intuit Inc. (NASDAQ:INTU)

Legacy Bridge LLC raised its stake in shares of Intuit Inc. (NASDAQ:INTU – Get Rating) by 12.5% in the 4th quarter, HoldingsChannel reports. The firm owned 782 shares of the software maker’s stock after purchasing an additional 87 shares during the period. Legacy Bridge LLC’s holdings in Intuit were worth $304,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Sunbelt Securities Inc. lifted its position in Intuit by 41.9% during the third quarter. Sunbelt Securities Inc. now owns 2,860 shares of the software maker’s stock valued at $1,108,000 after purchasing an additional 844 shares during the last quarter. Lido Advisors LLC raised its stake in shares of Intuit by 16.9% during the third quarter. Lido Advisors LLC now owns 1,527 shares of the software maker’s stock worth $591,000 after acquiring an additional 221 shares in the last quarter. M Holdings Securities Inc. raised its stake in shares of Intuit by 26.4% during the third quarter. M Holdings Securities Inc. now owns 733 shares of the software maker’s stock worth $284,000 after acquiring an additional 153 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Intuit by 35.5% during the third quarter. Victory Capital Management Inc. now owns 269,085 shares of the software maker’s stock worth $104,222,000 after acquiring an additional 70,425 shares in the last quarter. Finally, PDT Partners LLC purchased a new position in shares of Intuit during the second quarter worth approximately $2,049,000. 82.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Lauren D. Hotz sold 500 shares of Intuit stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $413.16, for a total transaction of $206,580.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,781 shares in the company, valued at $735,837.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Lauren D. Hotz sold 500 shares of Intuit stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $413.16, for a total transaction of $206,580.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,781 shares in the company, valued at $735,837.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Alexander Chriss sold 597 shares of Intuit stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $400.00, for a total transaction of $238,800.00. Following the transaction, the executive vice president now owns 344 shares of the company’s stock, valued at $137,600. The disclosure for this sale can be found here. Insiders sold 7,925 shares of company stock worth $3,258,123 over the last three months. Company insiders own 3.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on INTU. Piper Sandler lifted their price target on shares of Intuit from $459.00 to $510.00 and gave the stock an “overweight” rating in a research note on Friday, February 24th. Wells Fargo & Company decreased their price target on shares of Intuit from $525.00 to $475.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 30th. Oppenheimer dropped their target price on Intuit from $516.00 to $476.00 and set an “outperform” rating for the company in a report on Wednesday, November 30th. StockNews.com initiated coverage on Intuit in a research note on Thursday. They issued a “hold” rating on the stock. Finally, BMO Capital Markets increased their price objective on Intuit from $448.00 to $462.00 and gave the company an “outperform” rating in a research note on Friday, February 24th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $483.53.

Intuit Stock Performance

Shares of INTU opened at $413.69 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.23. Intuit Inc. has a one year low of $339.36 and a one year high of $507.71. The company has a 50-day simple moving average of $408.58 and a two-hundred day simple moving average of $404.01. The firm has a market capitalization of $116.06 billion, a PE ratio of 60.66, a price-to-earnings-growth ratio of 3.12 and a beta of 1.16.

Intuit (NASDAQ:INTU – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The software maker reported $2.20 EPS for the quarter, topping the consensus estimate of $1.44 by $0.76. Intuit had a net margin of 14.22% and a return on equity of 14.89%. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same period last year, the business posted $0.67 earnings per share. Intuit’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, analysts anticipate that Intuit Inc. will post 9.01 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 18th. Shareholders of record on Monday, April 10th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Thursday, April 6th. This represents a $3.12 annualized dividend and a yield of 0.75%. Intuit’s dividend payout ratio (DPR) is presently 45.75%.

About Intuit

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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.