Fermata Advisors LLC Boosts Position in Intuit Inc. (NASDAQ:INTU)

Fermata Advisors LLC raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 72.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 556 shares of the software maker’s stock after buying an additional 233 shares during the period. Fermata Advisors LLC’s holdings in Intuit were worth $361,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Desjardins Global Asset Management Inc. boosted its holdings in Intuit by 1.4% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after acquiring an additional 16 shares during the period. JFS Wealth Advisors LLC boosted its stake in shares of Intuit by 1.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock valued at $978,000 after purchasing an additional 16 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Intuit by 3.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after purchasing an additional 16 shares during the period. GAM Holding AG grew its holdings in Intuit by 0.3% during the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after purchasing an additional 17 shares in the last quarter. Finally, Janiczek Wealth Management LLC increased its stake in Intuit by 2.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after buying an additional 17 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of analyst reports. Piper Sandler upped their price objective on shares of Intuit from $750.00 to $760.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Susquehanna lowered their price objective on Intuit from $775.00 to $757.00 and set a “positive” rating for the company in a research note on Friday, May 24th. Erste Group Bank restated a “hold” rating on shares of Intuit in a report on Friday, June 14th. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Monday, May 27th. Finally, Bank of America dropped their price target on shares of Intuit from $760.00 to $730.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Five equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $679.41.

Intuit Stock Performance

Shares of INTU stock opened at $630.47 on Wednesday. The business has a 50 day simple moving average of $616.23 and a 200 day simple moving average of $627.19. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market capitalization of $176.25 billion, a price-to-earnings ratio of 58.16, a price-to-earnings-growth ratio of 3.57 and a beta of 1.21. Intuit Inc. has a 12-month low of $444.19 and a 12-month high of $676.62.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. The company 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 quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company earned $7.80 earnings per share. On average, equities research analysts anticipate that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Dividend Announcement

The firm 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. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s payout ratio is 33.21%.

Insider Activity

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

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.