Newbridge Financial Services Group Inc. Buys 74 Shares of Intuit Inc. (NASDAQ:INTU)

Newbridge Financial Services Group Inc. boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 21.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 424 shares of the software maker’s stock after buying an additional 74 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Intuit were worth $265,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Kestra Advisory Services LLC boosted its holdings in Intuit by 2.1% during the 3rd quarter. Kestra Advisory Services LLC now owns 8,988 shares of the software maker’s stock valued at $4,592,000 after acquiring an additional 186 shares during the period. QRG Capital Management Inc. bought a new stake in shares of Intuit during the third quarter worth $6,741,000. Qtron Investments LLC boosted its stake in shares of Intuit by 14.9% during the third quarter. Qtron Investments LLC now owns 1,903 shares of the software maker’s stock valued at $972,000 after purchasing an additional 247 shares during the period. Robertson Stephens Wealth Management LLC grew its holdings in shares of Intuit by 19.5% in the third quarter. Robertson Stephens Wealth Management LLC now owns 1,025 shares of the software maker’s stock worth $524,000 after purchasing an additional 167 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new position in Intuit in the 3rd quarter worth about $1,810,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the transaction, the insider now directly owns 6,791,469 shares of the company’s stock, valued at approximately $4,060,279,741.65. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Intuit news, EVP Mark P. Notarainni sold 465 shares of Intuit stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the completion of the sale, the executive vice president now directly owns 869 shares in the company, valued at approximately $525,380.02. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the sale, the insider now owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 193,937 shares of company stock worth $113,123,232. Company insiders own 2.90% of the company’s stock.

Intuit Stock Up 1.2 %

Shares of INTU stock opened at $609.68 on Wednesday. The stock’s fifty day moving average price is $616.00 and its 200 day moving average price is $625.37. Intuit Inc. has a 1-year low of $442.74 and a 1-year high of $676.62. The company has a market cap of $170.44 billion, a price-to-earnings ratio of 56.24, a price-to-earnings-growth ratio of 3.45 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $7.80 earnings per share. On average, research analysts expect that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be issued a $0.90 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.59%. Intuit’s dividend payout ratio is currently 33.21%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on INTU shares. Bank of America lowered their price objective on shares of Intuit from $760.00 to $730.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Susquehanna dropped their price objective on Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a research note on Friday, May 24th. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Monday, May 27th. KeyCorp upped their target price on Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Finally, Erste Group Bank restated a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Five equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $679.41.

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.