Aspiriant LLC Raises Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Aspiriant LLC raised its position in Intuit Inc. (NASDAQ:INTU) by 11.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 404 shares of the software maker’s stock after buying an additional 42 shares during the quarter. Aspiriant LLC’s holdings in Intuit were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mutual Advisors LLC raised its stake in shares of Intuit by 69.9% during the third quarter. Mutual Advisors LLC now owns 1,967 shares of the software maker’s stock worth $1,005,000 after purchasing an additional 809 shares during the last quarter. Valley National Advisers Inc. lifted its position in Intuit by 50.3% during the third quarter. Valley National Advisers Inc. now owns 227 shares of the software maker’s stock worth $116,000 after buying an additional 76 shares during the period. Trustmark National Bank Trust Department purchased a new position in shares of Intuit in the 3rd quarter worth about $220,000. Bamco Inc. NY raised its holdings in shares of Intuit by 12.8% in the 3rd quarter. Bamco Inc. NY now owns 12,403 shares of the software maker’s stock worth $6,337,000 after purchasing an additional 1,412 shares during the period. Finally, Nomura Holdings Inc. purchased a new position in shares of Intuit in the 3rd quarter worth about $12,405,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

INTU has been the topic of a number of research reports. Stifel Nicolaus cut their price objective on Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Jefferies Financial Group restated a “buy” rating and issued a $770.00 price objective on shares of Intuit in a report on Thursday, June 13th. Piper Sandler raised their target price on Intuit from $750.00 to $760.00 and gave the company an “overweight” rating in a report on Friday, May 24th. Morgan Stanley raised their price objective on Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Finally, KeyCorp raised their price objective on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $679.41.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 14,748 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $567.40, for a total value of $8,368,015.20. Following the transaction, the insider now directly owns 6,701,721 shares of the company’s stock, valued at approximately $3,802,556,495.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Intuit news, insider Scott D. Cook sold 14,748 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $567.40, for a total value of $8,368,015.20. Following the transaction, the insider now directly owns 6,701,721 shares of the company’s stock, valued at approximately $3,802,556,495.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 1,415 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $855,480.70. Following the completion of the transaction, the chief financial officer now directly owns 2,332 shares in the company, valued at $1,409,880.56. The disclosure for this sale can be found here. Insiders have sold a total of 193,937 shares of company stock valued at $113,123,232 in the last three months. Insiders own 2.90% of the company’s stock.

Intuit Stock Up 1.1 %

INTU opened at $637.48 on Thursday. Intuit Inc. has a one year low of $444.19 and a one year high of $676.62. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. The stock’s fifty day moving average is $616.23 and its 200-day moving average is $627.19. The company has a market capitalization of $178.21 billion, a PE ratio of 58.81, a P/E/G ratio of 3.61 and a beta of 1.21.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $7.80 EPS. On average, equities analysts predict that Intuit Inc. will post 11.72 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s payout ratio is 33.21%.

Intuit Company 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.