Sargent Investment Group LLC Raises Stake in Intuit Inc. (NASDAQ:INTU)

Sargent Investment Group LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,757 shares of the software maker’s stock after purchasing an additional 28 shares during the period. Sargent Investment Group LLC’s holdings in Intuit were worth $1,077,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. R Squared Ltd acquired a new stake in Intuit in the 4th quarter valued at about $25,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit during the 3rd quarter worth about $27,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the 4th quarter worth about $28,000. Sugar Maple Asset Management LLC purchased a new position in shares of Intuit during the 4th quarter worth about $29,000. Finally, Denver PWM LLC purchased a new position in shares of Intuit during the 3rd quarter worth about $32,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Trading Down 1.5 %

NASDAQ:INTU opened at $591.72 on Wednesday. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The business’s 50-day moving average price is $630.27 and its two-hundred day moving average price is $633.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $165.63 billion, a price-to-earnings ratio of 57.45, a PEG ratio of 2.96 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its earnings results 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. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were issued a $1.04 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.70%. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

Wall Street Analyst Weigh In

INTU has been the topic of several research reports. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. Oppenheimer lifted their price objective on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Barclays cut their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. One equities research 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Insiders Place Their Bets

In related news, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares in the company, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 7,700 shares of the 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 transaction, the executive vice president now owns 33,916 shares of the company’s stock, valued at approximately $22,304,518.24. The trade was a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock worth $188,992,187 over the last ninety days. 2.68% of the stock is currently owned by corporate insiders.

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.