Foundations Investment Advisors LLC Acquires 264 Shares of Intuit Inc. (NASDAQ:INTU)

Foundations Investment Advisors LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 65.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 666 shares of the software maker’s stock after purchasing an additional 264 shares during the period. Foundations Investment Advisors LLC’s holdings in Intuit were worth $419,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cetera Investment Advisers boosted its holdings in shares of Intuit by 0.9% in the second quarter. Cetera Investment Advisers now owns 47,187 shares of the software maker’s stock valued at $31,012,000 after buying an additional 431 shares during the period. Sanctuary Advisors LLC acquired a new position in Intuit in the 2nd quarter worth $12,334,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Intuit by 84.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 93,025 shares of the software maker’s stock worth $61,137,000 after purchasing an additional 42,685 shares in the last quarter. Mattson Financial Services LLC bought a new stake in shares of Intuit in the second quarter valued at about $1,645,000. Finally, Jacobs & Co. CA boosted its position in shares of Intuit by 6.1% during the third quarter. Jacobs & Co. CA now owns 12,989 shares of the software maker’s stock worth $8,066,000 after buying an additional 746 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the transaction, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 293,014 shares of company stock worth $188,992,187. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $604.60 on Friday. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The company has a market capitalization of $169.24 billion, a price-to-earnings ratio of 58.70, a PEG ratio of 3.01 and a beta of 1.25. The company has a 50-day simple moving average of $633.22 and a 200 day simple moving average of $634.26. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.14 earnings per share. On average, sell-side analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were given a $1.04 dividend. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s payout ratio is presently 40.39%.

Analyst Upgrades and Downgrades

INTU has been the topic of several research reports. Stifel Nicolaus cut their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. JPMorgan Chase & Co. increased their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Scotiabank began coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. Finally, Morgan Stanley lifted their target price on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned 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 $726.53.

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.