Portfolio Design Labs LLC Has $764,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Portfolio Design Labs LLC grew its stake in Intuit Inc. (NASDAQ:INTU) by 37.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,216 shares of the software maker’s stock after acquiring an additional 329 shares during the period. Portfolio Design Labs LLC’s holdings in Intuit were worth $764,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of INTU. R Squared Ltd acquired a new position in shares of Intuit during the 4th quarter worth approximately $25,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit in the third quarter valued at $27,000. Heck Capital Advisors LLC acquired a new position in Intuit during the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit during the fourth quarter worth $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Intuit in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday, January 15th. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Jefferies Financial Group boosted their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $765.00 price target on shares of Intuit in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Laura A. Fennell sold 7,700 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $657.64, for a total value of $5,063,828.00. Following the sale, the executive vice president now owns 33,916 shares in the company, valued at approximately $22,304,518.24. This trade represents a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock worth $188,992,187 over the last quarter. Corporate insiders own 2.68% of the company’s stock.

Intuit Trading Down 0.2 %

Shares of INTU stock opened at $585.88 on Wednesday. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The stock’s fifty day moving average price is $625.25 and its two-hundred day moving average price is $631.39. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $164.00 billion, a PE ratio of 56.88, a P/E/G ratio of 2.91 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $1.14 earnings per share. Equities analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.71%. The ex-dividend date was Friday, January 10th. Intuit’s payout ratio is 40.39%.

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.