Family CFO Inc Acquires New Holdings in Intuit Inc. (NASDAQ:INTU)

Family CFO Inc acquired a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 373 shares of the software maker’s stock, valued at approximately $234,000. Intuit makes up approximately 0.1% of Family CFO Inc’s portfolio, making the stock its 28th largest position.

Several other hedge funds also recently bought and sold shares of INTU. R Squared Ltd purchased a new position in Intuit during the fourth quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new position in Intuit in the 3rd quarter worth approximately $27,000. Heck Capital Advisors LLC purchased a new position in Intuit in the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Intuit in the 4th quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in Intuit in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on INTU. Oppenheimer boosted their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Stifel Nicolaus cut their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and issued a $765.00 price target on shares of Intuit in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Intuit Trading Up 0.6 %

NASDAQ:INTU opened at $587.38 on Friday. The company has a fifty day moving average of $621.39 and a 200 day moving average of $630.35. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $164.42 billion, a P/E ratio of 57.03, a P/E/G ratio of 2.91 and a beta 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, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.14 EPS. On average, research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

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

Insider Buying and Selling at Intuit

In other news, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sandeep Aujla sold 1,300 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $626.42, for a total transaction of $814,346.00. Following the completion of the sale, the chief financial officer now directly owns 644 shares in the company, valued at $403,414.48. This represents a 66.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is currently owned by company insiders.

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.